Momenta launches Hong Kong IPO to raise about $751 million
Chinese self-driving tech company Momenta just kicked off its Hong Kong IPO, aiming to raise about $751 million by selling nearly 20 million shares.
Trading starts July 8, 2026.
The move comes as AI and automation are getting a lot of buzz, especially with China pushing for more homegrown tech.
Momenta allocates 60% to research
Momenta plans to put most of the funds (60%) into research: think better AI, more data storage, and hiring engineers. Another chunk (20%) is set aside for launching their Robotaxi service.
Big names like Mercedes-Benz and BlackRock are backing the IPO.
Since starting in 2016, Momenta has teamed up with automakers like Toyota and BYD, with vehicles using its software having topped 680,000 by the end of 2025, even as it invests heavily for future growth.