Temasek Invests in Momenta
Posted on 03/22/2021
Momenta is a Chinese autonomous driving startup. Momenta raised US$ 500 million from SAIC Motor, Toyota Motor, and auto parts supplier Bosch. Other investors in the funding round include Daimler AG, Temasek Holdings, Jack Ma’s Yunfeng Capital, and Tencent Holdings Limited, Momenta said in a statement.
Momenta is headed up by Cao Xudong, a former Microsoft executive. Momenta specializes in vision-based, or camera-based, high definition mapping.
Momenta is testing autonomous cars in Beijing and China’s eastern city of Suzhou, and has a research center in Germany’s Stuttgart.
In 2020, Toyota partnered with Momenta to develop a high definition mapping platform in China for autonomous driving vehicles, a key to allowing such vehicles to locate themselves.