Momenta Launches Hong Kong IPO to Raise Up to $751 Million for AI and Robotaxi Expansion

Chinese autonomous driving technology company Momenta Global officially launched its Hong Kong initial public offering (IPO) on Monday, aiming to raise as much as HK$5.89 billion (approximately $751.1 million) to accelerate its artificial intelligence (AI) development and Robotaxi expansion.

The IPO marks another significant listing in Hong Kong’s growing technology sector, as investor appetite for AI, semiconductor, and automation-related companies continues to strengthen. The offering also reflects China's broader push to advance domestic technology capabilities amid intensifying competition with the United States.

According to the company's prospectus, Momenta is offering 19.9 million shares at HK$295.60 each. The company is expected to debut on the Hong Kong Stock Exchange on July 8, confirming earlier reports that it would begin its IPO process this week.

Momenta plans to allocate around 60% of the IPO proceeds toward research and development, focusing on expanding AI computing power, enhancing data storage infrastructure, and growing its engineering workforce. Another 20% of the funds will support the accelerated deployment of its Robotaxi business, while the remaining capital will be used for general corporate purposes and strategic initiatives.

The IPO has attracted several high-profile cornerstone investors, including existing shareholder Mercedes-Benz, BlackRock-managed funds, Boyu Capital, GIC, Fidelity International, Oaktree Capital Management, Franklin Templeton, and China Asset Management (ChinaAMC). Their participation signals strong institutional confidence in Momenta's long-term growth prospects.

Founded in 2016 by former Microsoft researcher Cao Xudong, Momenta develops advanced driver-assistance systems (ADAS) that enable vehicles to perform functions such as steering, braking, lane changing, and parking while still requiring drivers to remain attentive and ready to intervene. The company reported that more than 680,000 vehicles equipped with its software were on the road by the end of 2025.

Its customer and partner network includes leading global automakers such as Toyota, Mercedes-Benz, SAIC Motor, General Motors, BYD, and Audi, positioning Momenta as one of China's leading autonomous driving software providers.

Financially, Momenta continues to prioritize growth over profitability. The company reported a net loss attributable to shareholders of 3.46 billion yuan ($509 million) in 2025, compared with a loss of 3.21 billion yuan in the previous year. Despite the wider loss, annual revenue surged 82.1% to 2.41 billion yuan, reflecting strong demand for its AI-powered driving technologies.

Beyond China, Momenta is expanding its autonomous mobility ambitions through international Robotaxi projects. The company said it is collaborating with Uber and plans to launch commercial Robotaxi services in Abu Dhabi and Munich later this year, subject to regulatory approvals and deployment schedules with local partners.

Momenta's Robotaxi platform is built around Level 4 autonomous driving technology, allowing vehicles to operate independently within designated geographic areas and predefined driving conditions with little or no human intervention.

As demand for autonomous driving solutions and AI-powered transportation continues to grow worldwide, Momenta's Hong Kong IPO positions the company to strengthen its technological leadership while expanding its presence in the rapidly evolving self-driving vehicle market.