Chinese autonomous driving startup Momenta is pursuing a new funding round at a valuation of more than $5 billion, Bloomberg reported, citing people familiar with the matter. The company is working with financial advisors to assess investor interest, with an initial target of several hundred million dollars. The size of the round could increase depending on market dynamics, the report said.
The financing could strengthen Momenta’s capital base ahead of a potential initial public offering. The company confidentially filed for a U.S. listing last year, though Bloomberg noted progress would depend on broader market conditions.
Separately, Reuters reported that Momenta is weighing a shift in listing venue, with plans under discussion to pursue a Hong Kong IPO as early as 2026. Two sources said the startup had informed some investors of the potential change.
Momenta is nearing completion of a pre-IPO financing round, which is expected to include automakers Mercedes-Benz and Hyundai among its investors, according to Reuters. The company has previously attracted backing from global automotive players such as SAIC Motor, General Motors, Toyota, and Bosch. Founded in 2016 in Beijing and later relocated to Suzhou, Momenta has expanded operations to Germany, Japan, and the United States.
Unlike Chinese peers Pony.ai and WeRide, which are listed in the U.S. and focus primarily on robotaxi services, Momenta develops advanced driver assistance systems for carmakers. Pony.ai has a market capitalization of about $7.6 billion, while WeRide’s value stands at $3.1 billion.
Momenta’s technology has drawn strong industry interest: Mercedes-Benz said yesterday it would integrate the company’s smart driving software into the China-made all-electric CLA sedan this fall. The system is designed to handle driving support across highways, city roads, and parking scenarios, underscoring the growing role of Chinese startups in global automotive innovation.