Tencent and existing backer Nio Capital both invested as autonomous driving software developer Momenta took its overall funding to $200m.
China-based autonomous vehicle software developer Momenta raised an undisclosed amount on Wednesday from investors including internet group Tencent and Nio Capital, the investment arm of electric vehicle producer Nio.
The round valued Momenta at more than $1bn and increased its total funding to $200m. It included private equity firm Pagoda Investment, state-owned holding company China Merchants Group, financial services group CCB International and government funds from Shanghai and Suzhou.
Founded in 2016, Momenta is working on software for autonomous vehicles…
