Physix Frontier
Momenta
Funding History
- IPOUSD 750M — Listed on HKEX (06880.HK) on 2026-07-08 with an IPO price of HKD 295.6; global offering of approx. 19.9383M shares raised approx. HKD 5.89B (net approx. HKD 5.615B). Public subscription oversubscribed 414 times, marking the largest HK IPO that day; Uber was allocated an additional 397,600 shares, bringing its total holding to 1.1887M shares.
- IPO cornerstoneUSD 380M — 14 cornerstone investors subscribed to approximately USD 376M in total, accounting for about 49.95% of global offering shares; GIC and Fidelity International each led with USD 100M.
- Pre-IPO RoundUSD 500M — Approximately USD 500M, post-money valuation of USD 5B, representing the last private financing round before HKEX listing.
- Strategic investmentUndisclosed — Started in September 2025, with market rumors indicating a valuation exceeding USD 5B; SMB Holding, a wholly-owned subsidiary of Uber, participated, holding 791,055 preferred shares.
- Series C++ RoundUSD 500M — Closed a C+ round exceeding USD 500M, bringing cumulative Series C funding to over USD 1B, marking the largest financing in China's autonomous driving sector for that year.
- GM strategic investmentUSD 300M — General Motors invested USD 300M to accelerate the development of next-generation autonomous driving technology and support customized solutions for Chinese consumers.
- Series C RoundUSD 500M — The Series C round totaled USD 500M, led by Chinese strategic investor SAIC Motor and international strategic investors Toyota and Bosch, with participation from prominent institutions such as Temasek and Yunfeng Capital.
- Series B++ RoundUndisclosed — Strategic investors include Tencent and multiple other institutions.
- Series B RoundUSD 46M — NIO Capital and Daimler Group co-led the round; Daimler became the first international automaker to invest in a Chinese autonomous driving startup.
- Series A1 RoundUndisclosed — Led by Shunwei Capital.
- Series A RoundUSD 5M — Secured first round of financing just two months after establishment, led by Blue Lake Capital, followed by Sinovation Ventures and ZhenFund.