Sand.ai Completes a $200M A+ Round, Becomes a Unicorn

According to ChainCatcher, video large model company Sand.ai announced on November 5 that it has completed a $200 million A+ round led by Jichuang Capital and Wangsu Science & Technology, with participation from Shanghai State-owned Capital, Times Capital, and other investors. Existing shareholders such as Matrix Partners also continued to increase their stakes. This is the company’s third funding round in 2026, bringing its total fundraising to $300 million over the past 10 months, officially elevating it to unicorn status following this round. Sand.ai was founded by Cao Yue, former principal researcher at Microsoft Research Asia, and its core product is the MAGI series of video generation foundational models. In August 2026, the company open-sourced MAGI-2 Preview, a video generation model with a 114-billion-parameter MoE architecture, activating approximately 6 billion parameters per inference. According to official information, the full version of the larger-scale MAGI-2 model will be released soon, with proceeds from this round primarily allocated to research and development of video foundational models, infrastructure for training and inference, product iteration, and global market expansion.