Tencent-backed autonomous driving startup Momenta considers Hong Kong or US IPO as soon as this year – report

 

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The company is anticipating to raise a maximum of $1 billion through the listing and the firm is working with financial advisors on the possible deal, according to Reuters.

Founded in 2016, Momenta said it provides software in perception, high-definition maps and data-driven path planning that could enable full self-driving, according to its website.

Momenta introduced multiple investors through several funding rounds, including General Motors, Toyota Motor, SAIC Motor, Yunfeng Capital, NIO and Temasek. 

In addition, BYD company also formed a joint venture company in 2021 with Momenta, with the aim to jointly develop autonomous-driving businesses.