Wangsu Science & Technology announces a 300 million yuan investment in Sand.ai.
- Wangsu Technology plans to invest 300 million yuan of its own funds to subscribe to Sand.ai's Cayman Islands A+ round preferred shares.
- Wangsu Technology will hold 4.3963% of Sand.ai after the investment.
- As a transitional arrangement, Wangsu will provide 300 million yuan in convertible bonds to Shanghai Sandai Technology and obtain A+ round warrants.
- Sand.ai was founded in January 2024 and focuses on visual content generation models and video model-based product R&D.