Sand.ai announced a $200 million Series A+ round on November 5, 2026. CoStone Capital and Wangsu Science & Technology jointly led the financing for the Beijing-based video-generation startup, according to TNGlobal and DealStreetAsia. SourceSource
The company says this was its third round of 2026, taking its 10-month fundraising total to $300 million and its valuation above $1 billion. That puts it in unicorn territory. SourceSource
Where the money is meant to go
Sand.ai plans to spend the money on video foundation-model research, training and inference infrastructure, product development and international expansion. Reports from November 5–6, 2026, also described plans to release the full version of MAGI-2 in the near term, without an exact launch date. The funding announcement got a date; the model got a rather roomier window. SourceSource
DealStreetAsia describes MAGI-2 Preview as an open-source research release. Sand.ai says the preview generates audio and video together, according to TNGlobal’s account of the company’s website. SourceSource
Sand.ai also runs VidMuse, a paid service for creating music videos, advertisements and animated content. The company says VidMuse exceeded $10 million in annualized recurring revenue within two months of launch. That’s a run rate, not a two-month revenue total, and TNGlobal notes that the figure hasn’t been independently audited. Source
Wangsu’s role goes beyond the cheque
TNGlobal, citing Wangsu’s exchange disclosures, reports that the companies intend to collaborate on audio and video inference, low-latency edge inference and enterprise deployment. Under those plans, Sand.ai’s new models would get priority deployment through Wangsu’s infrastructure, subject to the companies’ agreements.
