SAIC Motor, Toyota, and Bosch lead $500 million round for automated vehicle developer Momenta

March 26, 2021
Digital Transformation More...
by Lewie Roberts
Very important

This new round brings Momenta's total funding to roughly $700 million, and the company plans to use this influx to expand its international presence. In the coming months, Momenta will open a European office in Stuttgart, placing it in close proximity to Daimler (another of Momenta's strategic investors). While the company is working toward Level 4 autonomy in the future, it focuses on developing ADAS features – like highway automation and valet parking – for its customers in the near term. This puts it in competition with other companies like Mobileye, which is deploying its own set of automated features with Geely later this year.

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