The autonomous driving leader Momenta has confidentially submitted a listing application to the Hong Kong Exchanges and Clearing and commenced its initial public offering process. It has been exclusively learned that prior to initiating the IPO, Momenta also completed a Pre-IPO funding round of approximately $500 million. Investors in this round included prominent private equity firms such as UAE-based Stone Venture, Gaorong Capital, and Gaocheng Capital.
Since its establishment, Momenta has garnered backing from venture capital and private equity firms including Shunwei Capital, Sinovation Ventures, ZhenFund, and Yunfeng Capital. It has also secured multiple rounds of investment from strategic corporate investors such as Mercedes-Benz, SAIC Motor, and Toyota China. The company's cumulative fundraising to date exceeds $1.261 billion.
However, since securing investment from industrial and international capital, including Toyota Motor and SAIC Motor, in November 2021, Momenta has not disclosed or confirmed any further financing news until now.
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