momenta

A few years ago, robotaxis were the darlings of venture capitalists in China. A cadre of audacious startups, including Deeproute.ai, WeRide.ai, Pony.ai and Momenta reeled in hundreds of millions of dollars to fuel their costly ambitions. With pockets overflowing, they spent generously on building self-driving vehicle fleets. Their geeky executives, swapping T-shirts for sharp suits, cozied up to local officials and nudged policymaking in their favor. As these companies’ valuations continued to climb, however, a…

A robotaxi unit of China's state-owned Saic Motor has raised more than 1 billion yuan ($147.37 million) in a second round of fundraising from its autonomous technology partner Momenta and several other institutions, according to a Momenta statement and a person familiar with the matter. The latest financing boosted Saic Mobility Robotaxi's value to more than $1 billion, the statement said. Momenta did not disclose the size of its investment in Saic Mobility Robotaxi, which tapped Momenta last year to jointly develop…