“Build autonomous vehicles driving brains”

Founded: 2016 in Beijing, China

Category: Autonomous vehicles & Artificial intelligence

Primary office: Suzhou (China)

Core technical team: Suzhou, China

Status: Private

Employees(estimated): 242

Amount raised: $203.2 million (11 rounds – June, 2019)

OVERVIEW

  • Software-focused autonomous driving company
  • Provides OEMs (original equipment manufacturer) and Tier 1s with safe, reliable and mass production-ready software (for multi-level autonomy for different driving scenarios)
  • Mission: Better AI, better life

 

PERFORMANCE METRICS

  • Estimated valuation: $1 billion
  • Estimated revenue: $8 million

 

ACHIEVEMENTS

  • China’s first autonomous driving “Unicorn”
  • Named one of 50 Smartest Companies by MIT Technology Review (2018)
  • Ranked No. 264 on Hurun Global Unicorn List (2019)
  • Winners of top deep learning and robotics competitions (ImageNet, COCO, RoboCup, etc.)
  • Medalists of ACM-ICPC/NOI

Sells

  • Momenta Self-driving: full autonomy solution designed for open roads
  • Momenta Mpilot: autonomous driving software covering highway, parking, and urban scenarios
    • Mpilot Highway: Integrated with high-definition map, an autonomous driving software solution created to provide the best possible driving experience, save driving time and improve safety on road
    • Mpilot Parking: Provides intelligent valet parking experience via superior surround view perception, high precision in-door mapping and localization technologies
    • Mpilot ICP (in-cabin camera perception): A deep learning based high-performance and automotive-grade perception software solution for interior vehicle environments, offering better driver safety for autonomous driving
    • Mpilot FCP (front camera perception): Offers superior front-looking vision perception and high-precision localization

Channels

  • Partnerships with major automobile manufactures (e.g., Toyota, Daimler)

Competencies

  • “Mpilot + MSD”: Enacting a two-legged strategy of autonomous driving for mass-production passenger vehicles (Mpilot) and full autonomy (MSD) for mobility service vehicles
  • Sells semi-automated software to fund research for self-driving technology, collect sensor data from real-life scenarios to feed models in the lab, and develop and upgrade products and services
  • Apply big data, super-computing, model optimization, and artificial intelligence algorithms to develop core technologies (e.g., perception of pedestrians, vehicles and roads; high-definition maps; and data-driven path planning)

Resources

Assets

  • Powerful backers – Daimler, AG and Tencent
  • CEO/Founder, Cao Xudong, has professional experiences in artificial intelligence
  • Professional R&D team – includes some of the world’s foremost experts on artificial intelligence and deep learning, including authors of Faster R-CNN, ResNet, and SENet
  • Powerful data platform supporting deep learning technology empowering autonomous driving solutions
  • Strategic partnership with Toyota, AMBA, NXPI for automated high definition mapping, automotive-grade driver monitoring solutions (DMS)
  • Global offices including Suzhou, Beijing, and Stuttgart
  • Chinese market solutions: perception algorithm and optimization for complex Chinese scenarios

Processes

  • Through mass production and deployment of automatic driving software products, obtain massive amounts of data
  • Continuous research and development of data-driven algorithms, closed-loop automation systems,
  • Efficient iterative technology enhancement
  • Focus on user experience – collect user feedback on official website
  • Use crowdsourcing to build and upgrade high definition mapping software; enables low cost, high precision, and robust localization
  • Closed loop automation – a systematic approach to achieve rapid iteration of autonomous driving algorithms, reduces repetitive work, focuses on core values, and thus optimizes the product development cycle

Priorities

  • Principles – reliability, humanity, and efficiency
  • Put safety first
  • Further build partnerships
  • Diversify product offerings
  • Aim to help people live a better life with improved safety and efficiency of driving through artificial intelligence
  • Provide world-leading autonomous driving products

Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely

  1. Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
  2. Continuously improve the user interfaces and applications that directly influence the entirety of the customer experience including personalized content, quality messaging, and the delivery and returns process to increase sales
  3. Increase demand by using scientific and technological advances to develop innovative products and services
  4. Increase demand of products and services by combining two or more resources in a way that the value created from them exceeds the sum of the value created from each resource separately
  5. Increase demand by enabling users to participate in product and service development
  6. Increase sales by applying big-data analytics to produce information about users, suppliers and customers
  7. Define and implement the plan to scale with the effort, skills, and resilience to increase profitability
  8. Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace

References

  1. Crunchbase. 2020. Momenta https://www.crunchbase.com/organization/momenta-ai#section-overview
  2. Owler. 2020. Momentahttps://www.owler.com/company/momenta2
  3. Momenta website. https://www.momenta.cn/en/
  4. Bao Xiaogan. 2020. 专访Momenta CEO曹旭东:“技术癌”与他渐进式的自动驾驶之路 [online] Technode. https://cn.technode.com/post/2017-11-17/momenta/

Contributors

  • Mengya Chen