On December 22, Momenta announced the completion of nearly 1 billion yuan in Series A financing, making it China’s first autonomous driving unicorn to achieve large-scale production just two years after its establishment.
According to Momenta, autonomous driving is one of the highest threshold and most long-lasting entrepreneurial tracks in the entire intelligent automotive industry, and completing Series A financing is their first survival battle won.
The investors of this financing include Meituan, GL Ventures, Qualcomm Ventures, Shoucheng Holdings, and 9F Investment, among others. Momenta stated that the raised funds will be mainly used for autonomous driving research and development investment and talent system construction.
Momenta CEO Gu Weihao stated that the passenger vehicle assisted driving project of Momenta in 2022 will be expanded by 7 times, and the unmanned logistics vehicle project at the end point will be expanded by 3 times. At the same time, in order to promote the rapid development of the Momenta data intelligence system, the Momenta supercomputer center is also in preparation.
Currently, Momenta is one of the world’s leading front-end autonomous driving AI companies in terms of stationary vehicle models, revenue scale, and autonomous driving data warehouses. Momenta has a full-stack self-developed autonomous driving solution, and its driving solutions have been successively carried by models such as the WEY Mocha, Tank 300 City Edition, Wey Latte, Wey Machiato, and Haval H6, among others, with users driving mileage of over 4 million kilometers. By the end of 2022, the Momenta assisted driving system is expected to be carried by 34 Great Wall passenger vehicle models, and the number of passenger vehicles expected to be carried in the next three years exceeds 1 million.
Momenta owns the largest L4 unmanned logistics vehicle production factory in the world, with an area of over 5,000 square meters in Baoding, and Momenta has reached agreements with enterprises such as Meituan, Wumart Multi-point, and Alibaba DAMO Academy. Currently, end-point logistics unmanned vehicles have been successively configured in specific scenarios such as supermarket delivery.
Momenta hopes to become a world-class autonomous driving company with the help of comprehensive elements such as policies, markets, talents, technology, and capital. Momenta also stated that in the future, they will continue to work with domestic and foreign partners and investment institutions to maintain the speed of technological innovation and commercialization landing, accelerate the introduction of new products and new services, and help partners reshape and comprehensively upgrade the entire society’s travel and logistics methods.
Momenta stated that their development goal is to achieve zero accidents, zero congestion, freedom of travel, and efficient logistics, and to help partners reshape and comprehensively upgrade the entire society’s travel and logistics methods.
🔗Source: [Momenta Official]
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