Self-Driving Firm Momenta Seeks Funding at $5 Billion-Plus Value

Autonomous driving startup Momenta is seeking to raise new funding at a valuation well above $5 billion, representing a major jump in the value of the Chinese partner to Uber Technologies Inc.

The Beijing company, backed by Temasek Holdings Pte, Tencent Holdings Ltd. and Jack Ma’s Yunfeng Capital, is working with advisers to gauge interest from potential investors, people familiar with the matter said. Its initial goal is several hundred million dollars, though the final amount could rise depending on that process, the people said, asking not to be identified because the deliberations are private.

If it ...