Momenta, a specialist in autonomous vehicle technology, has raised $500 million in a Series C round.
The investment was led by SAIC Motor, Toyota and Bosch, with Temasek and Yunfeng also participating.
Other names also involved in the round include Mercedes-Benz and Tencent.
The China-based startup will put the funds towards recruitment and improving its data
Momenta describes itself as the “brain” for autonomous vehicles and says it sues “deep learning algorithms” to make driving safer and more efficient.
The company announced a partnership with Toyota a year ago to develop HD mapping technology.
Momenta is one of several autonomous driving startups and initiatives that are attracting attention of the wider automotive industry.
The company’s strategy is to develop autonomous driving for mass produced passenger vehicles and “full autonomy for mobility service vehicles.”
Honda was part of a $2 billion investment in General Motors' driverless unit earlier this year alongside Microsoft.
Toyota also invested $500 million in Uber in 2018 to develop driverless vehicles.
A recent report from Lux Research ranked autonomous vehicles in the number one spot of trends to watch saying that improvements in artificial intelligence, analytics and data from maps and sensors were all boosting the development.