Story perspectives

Momenta Raises HK$5.9 B, Funds R&D and 2026 Robotaxi Launches

6/30/2026

Summary

Momenta IPO

Momenta launched a Hong Kong IPO on June 29 2026 to raise HK$5.89 billion.
It offered 19.9 million shares at HK$295.60 each, with trading starting July 8 2026.
Momenta will spend 60% on R&D, 20% on Robotaxi rollout with services planned for Abu Dhabi and Munich in 2026, and 20% on other activities.
Momenta, whose cornerstone investors include Mercedes-Benz Group, BlackRock, Boyu Capital and others, reported a 2025 loss of 3.46 billion yuan on revenue of 2.41 billion yuan.

Summary

Momenta Gets Listing

Momenta became the second “red-chip” firm in 2026 to receive approval for a Hong Kong listing.
The company led the urban Navigation on Autopilot (NOA) market for the 12 months ended February with a 64.5% share among independent suppliers.
Momenta’s 2025 development outlay was 1.87 billion yuan, equal to 77.5% of its revenue.
Competitors Pony AI and WeRide are seeking Hong Kong capital, showing a financing push among Chinese autonomous-driving startups.

Summary

Momenta Raises Billions

Hong Kong raised over $13 billion in Q1 2026, its strongest equity sales since 2021.
Total fundraising reached HK$166.8 billion in the first five months, more than double the previous year.
Momenta, founded in 2016 by former Microsoft researcher Cao Xudong, licenses autonomous-driving software to automakers and partners with Uber and Mercedes-Benz on robotaxi projects in Munich and Abu Dhabi.

History

Historical Context

Baidu launched its Apollo autonomous-driving platform in 2013, rallying over 10,000 developers and more than 50 partners, and began mass-producing the driverless Apolong bus by 2017. That early state-backed push created a funding pipeline that today underpins Momenta’s HK$5.89 billion 2026 IPO, positioning Hong Kong as a regional hub for AV investment.

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Momenta IPO

Momenta launched a Hong Kong IPO on June 29 2026 to raise HK$5.89 billion.
It offered 19.9 million shares at HK$295.60 each, with trading starting July 8 2026.
Momenta will spend 60% on R&D, 20% on Robotaxi rollout with services planned for Abu Dhabi and Munich in 2026, and 20% on other activities.
Momenta, whose cornerstone investors include Mercedes-Benz Group, BlackRock, Boyu Capital and others, reported a 2025 loss of 3.46 billion yuan on revenue of 2.41 billion yuan.

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