Momenta, an autonomous driving startup founded less than a year ago, announced on July 25, 2019 that it had received $46 million USD in Series B financing led by NIO Capital, with Daimler Group (Mercedes-Benz parent company), Shunwei Capital, Sinovation Ventures and Unity Ventures as co-investors.

Xudong Cao, founder and CEO of Momenta, said that this round of financing will be put toward three main areas. First, strengthening Momenta's core capabilities in artificial intelligence, including big data development, mass computing and attracting top talent in AI. Second, the commercialization of vision-based environmental awareness and high-precision mapping technologies. Third, developing L4 driverless autonomous driving technology for high-frequency use case.

Founded in September 2016, Momenta is committed to building an autonomous driving brain incorporating environmental perception based on deep learning, high-precision mapping and decision-making algorithms. Its products include various levels of autonomous driving solutions and derivative big data services.