Prime Highlights
- Momenta launched its Hong Kong IPO to raise up to HK$5.89 billion for AI research and Robotaxi expansion.
- The company plans to use 60% of the proceeds for research and development and 20% for scaling Robotaxi services.
Key Facts
- Momenta is a Chinese autonomous driving technology company founded in 2016 by former Microsoft researcher Cao Xudong.
- Vehicles using Momenta’s driver-assistance software exceeded 680,000 by the end of 2025.
Background
Chinese autonomous driving technology company Momenta Global has launched its Hong Kong initial public offering (IPO), seeking to raise to HK$5.89 billion ($751.1 million) to support research, development and Robotaxi expansion.
The company is offering 19.9 million shares at HK$295.60 each and is expected to begin trading in early July. The listing comes as investor demand for Chinese firms focused on artificial intelligence, semiconductors and automation continues to strengthen.
Momenta said about 60% of the IPO proceeds will fund research and development, including AI computing infrastructure, data storage and engineering capabilities. Around 20% will support the rollout of its Robotaxi services.
Founded in 2016 by former Microsoft researcher Cao Xudong, Momenta develops advanced driver-assistance software that enables vehicles to steer, brake, change lanes and park while requiring drivers to remain attentive.
The company said vehicles using its software exceeded 680,000 by the end of 2025. Its customers and partners include Toyota, Mercedes-Benz, SAIC, General Motors, BYD and Audi.
For 2025, Momenta reported revenue of 2.41 billion yuan, an increase of 82.1% from the previous year. However, its net loss widened to 3.46 billion yuan from 3.21 billion yuan in 2024.
The company also wants to conduct Robotaxi trials across borders through its collaboration with Uber. It plans to roll out commercial Robotaxi services in Abu Dhabi and Munich during this year.
