 | |
| Industry | Self-driving cars |
|---|---|
| Founded | September 2016 |
| Founders | Cao Xudong (CEO) [1] |
| Headquarters | , |
| Products | Deep learning software |
| Website | www |
Momenta Global Limited (shortened to Momenta) is a developer of artificial intelligence (AI) technologies, based in Beijing [2] and Suzhou, China. [3] The company builds deep learning software for self-driving cars. [4]
Momenta was founded in September 2016 led by Cao Xudong, a former scientist at Microsoft Research and formerly executive director of research and development at Chinese deep-learning and computer vision company SenseTime. [2]
In 2017, Mercedes-Benz Group invested in Momenta, which was the automaker's first-ever investment into a Chinese startup. [5] [6]
Momenta became the first Chinese unicorn in the field of self-driving cars after investors valued the company at more than $1 billion in 2021. [7] The investors included, in addition to those already mentioned, General Motors (GM), IDG Capital, GGV Capital, Jiyuan Capital, Shunwei Capital, and Cathay Capital. [8] General Motors invested $300 million in Momenta, as was announced in 2021, with the aim to accelerate the development of self-driving cars in China. [7] By that time, Momenta struck partnerships with SAIC Motor, Toyota, auto parts supplier Bosch, Mercedes-Benz, Temasek, Yunfeng Capital, and Tencent. [9]
Since 2021, SAIC Motors and Momenta have worked together on robotaxi operations in Shanghai and Suzhou. In addition, Momenta is also supplying autonomous driving technology to SAIC's IM. [10] [11]
In December 2021, Momenta and BYD established a joint venture, called DiPi Intelligent Mobility Co, located in Shenzhen, to deploy autonomous driving capabilities across certain BYD car model lines. [11]
In 2023, General Motors China received approval to conduct road tests in Shanghai for its autonomous vehicles developed in collaboration with Momenta. [12]
In 2024, additional partnerships with Nvidia and Qualcomm followed. [13] [14]
In August 2024, Audi and SAIC Motor announced a joint venture in which Momenta is contributing a system for autonomous driving. [15]
In September 2024, Momenta introduced its first end-to-end self-driving model intended for mass production. [1]
Momenta does not build cars itself, but sells their car software to automakers. The company works on deep learning capacities, the so-called "brains", of cars. Momenta's software is fed with large amounts of data which are needed in particular for the development of self-driving cars, so that they can achieve end-to-end intelligent driving. [1] [4] [16]
According to Rita Liao in TechCrunch , the company has a "two-legged approach of selling semi-automated software while investing in research for next-gen self-driving tech". [17]
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