Momenta kicks off Hong Kong IPO, targets $751M to fund autonomous driving and Robotaxi expansion

Momenta Global, the Chinese autonomous driving technology company, launched its initial public offering on the Hong Kong Stock Exchange on June 29, targeting up to HK$5.89 billion (roughly $751M) in fresh capital. The offering consists of 19.9 million shares priced at HK$295.60 each, with trading expected to begin on July 8.

Cornerstone investors include Mercedes-Benz, BlackRock, Boyu Capital, Singapore’s sovereign wealth fund GIC, and Fidelity International.

Where the money is going

Momenta plans to funnel 60% of the IPO proceeds into research and development. Another 20% is earmarked for accelerating its Robotaxi services.

Founded in 2016 by Cao Xudong, a former Microsoft researcher, the company develops advanced driver-assistance systems, commonly known as ADAS. Its client list includes Toyota and Audi among the major players using its technology.

By the end of 2025, Momenta’s software was running in over 680,000 vehicles.

The financials tell two stories

Revenue hit 2.41 billion yuan (about $339M) for fiscal year 2025, representing 82% year-over-year growth. The company’s net loss widened to 3.46 billion yuan ($509M) over the same period.

Momenta reached unicorn status back in 2018, meaning it crossed the $1 billion valuation threshold just two years after its founding.

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