Chinese self-driving car startup raises $1 billion in funding
Momenta, a Chinese-based automotive startup, is the latest in a series of car manufacturers to raise significant amounts of funding in an effort to establish a new line of self-driving vehicles. The company has closed about $46 million in funding led by NIO Capital, Cathay Capital and Shunwei Capital as well as funding from the Chinese government at a valuation of over $1 billion.