Momenta's Overseas IPO and Its Developments

TapTechNews June 19, the website of the China Securities Regulatory Commission announced on Monday the 'Notice on the Record-filing of MomentaGlobalLimited (Dream teng Intelligent Driving Global Co., Ltd.) for Overseas Issuance and Listing', indicating that Momenta's IPO in the US has officially obtained record-filing. The document shows that Momenta plans to issue no more than 63,352,856 common shares and list on the Nasdaq Stock Exchange or the New York Stock Exchange.

According to public information, Momenta has completed 7 rounds of financing, and the cumulative amount of public financing exceeds 1.261 billion US dollars (TapTechNews note: currently about 9.162 billion yuan). The investors include Shunwei Capital, NIO Capital, Tencent, China Merchants Venture Capital, Temasek, SAIC Group, Mercedes-Benz China, General Motors, Toyota.

Momenta was founded in 2016, and its CEO is Cao Xudong, who graduated from Tsinghua University and specializes in the field of computer vision, and has successively served in Microsoft Research Asia and SenseTime.

In April this year, Momenta launched a high-level intelligent driving solution based on NVIDIA's Drive Orin chip, and the fastest is expected to be mass-produced and listed within this year. The company's main customers include BYD, Toyota, GM, and SAIC's IM Motors, etc.

At present, Momenta has the MSD (MomentaSelf-Driving) fully driverless solution of L4 level and above and the Mpilot highly automated driving solution of L2 level.