Autonomous driving technology startup Momenta receives USD 46M for Series B
Founder: Cao Xudong
Founded in: 2016
Financing status: RMB 311 million (USD 46 million) for Series B financing in 2017
Autonomous driving technology startup Momenta, on July 25, received USD 46M for Series B financing round to invest on its artificial intelligence technologies.
With the rapid development of artificial intelligence, autonomous driving technology has attracted increasing attention from investors and companies. Tech giants around the world are exploring opportunities in the autonomous driving industry due to its tremendous business potential. These companies include Google, Apple, Uber form the US, and Baidu, NIO from China, as well as certain vehicle companies, such as Toyota, BMW, Volvo, Tesla and so on. Recently, a Chinese autonomous driving technology startup raised USD 46M in Series B financing for its “autonomous brain” for cars.
Momenta is a autonomous-driving technology startup that aims to build a self-driving brain based on deep learning and big data technologies. Its core technologies cover high-resolution digital maps, driving-decision solutions and machine vision technology for autonomous driving, enabling it to empower autonomous vehicles to detect traffic signs, recognize pedestrians and track other cars on the road.
There are currently two competing technology solutions for self-driving cars to detect their surroundings. One is high-resolution LIDAR, a method used by companies like Google and Baidu. Momenta uses the other one, a machine-based method, which is a less expensive but requires advanced algorithms.
Founded in September 2016 in Beijing, Momenta previously raised fundings from Shunwei Capital, Blue Lake Capital, Sinovation Ventures and Zhen Fund. This new financing round was led by Chinese electric car company NIO, with Sequoia Capital China and Hillhouse Capital participating as investors. The capital will be used to improve its artificial intelligence technologies, such as big data and big data computing, as well as to commercialize its high-resolution digital map technology and develop level-four autonomous driving technology.
Big data based security technology provider HanSight receives USD 14.8M for Series B
Founder: Gao Hanzhao
Founded in: 2014
Financing status: RMB 100 million (USD 14.8 million) for Series B financing in 2017
Security technology provider HanSight, on July 25, receives USD 14.8M for its Series B financing round to improve its market influence.
HanSight is a big data based security technology provider that helps its business partners solve complex and discrete information-security problems. Its solutions are driven by the collection, treatment and analysis of data. HanSight’s services help corporations to automatically detect threats in real time, as well as ones that have already happened or are going to happen, in order to improve security and provide maximum protection of information assets.
Founded in 2014 in Beijing, recently HanSight released a new version of its smart security platform, which integrates deep learning technologies, network traffic analysis and user behavior analysis into its platform.
This Series B financing round was led by IDG Capital, with some existing investors also participating. HanSight plans to use the funds to invest in further research and development of its technologies, as well as to start a marketing campaign to increase their market influence.
(Top photo from 58pic.com)