Canva Acquires Leonardo.ai to Supercharge Generative AI Capabilities
Canva, the popular visual communication platform, has acquired Leonardo.ai, a generative AI content and research startup, to enhance its AI technology stack. The acquisition aims to integrate Leonardo.ai’s advanced AI capabilities into Canva’s suite of tools, promising significant advancements in visual communication and creativity.
Key Takeaways
- Canva acquires Leonardo.ai to boost its generative AI efforts.
- Leonardo.ai will continue to operate independently but benefit from Canva’s resources.
- The acquisition will enhance Canva’s Magic Studio suite with new AI capabilities.
- Leonardo.ai has over 19 million registered users and has generated more than a billion images.
The Acquisition Details
Canva has acquired Leonardo.ai, a Sydney-based generative AI startup founded in 2022. The financial terms of the deal were not disclosed, but it involves a mix of cash and stock. All 120 employees of Leonardo.ai, including the executive team, will join Canva. Despite the acquisition, Leonardo.ai will continue to run independently, focusing on rapid innovation, research, and development, now backed by Canva’s resources.
Leonardo.ai’s Unique Offerings
Leonardo.ai initially focused on video game asset creation but has since expanded to various industries, including fashion, advertising, and architecture. The platform offers collaboration tools, a private cloud for models, and APIs for customers to build their tech infrastructure. One of its standout features is the Live Canvas, which allows users to enter a text prompt and make a quick sketch, resulting in a photorealistic image generated in real-time.
Integration with Canva’s Magic Studio
Leonardo.ai’s technology will be integrated into Canva’s Magic Studio, enhancing existing tools and introducing new generative AI capabilities. This integration aims to make Canva’s AI-powered workflow more robust, offering users new possibilities in design and creativity. Canva has been investing in generative AI tools since December 2022, starting with the copywriting assistant Magic Write.
Future Prospects
The acquisition of Leonardo.ai marks Canva’s eighth acquisition overall and its second this year. Canva plans to continue investing in Leonardo’s standalone platform while integrating its technology throughout Canva’s suite of products. This move is expected to accelerate Canva’s AI research efforts and deliver new features and functionality to creatives worldwide.
Conclusion
The acquisition of Leonardo.ai by Canva is a significant step in enhancing Canva’s generative AI capabilities. With Leonardo.ai’s advanced technology and Canva’s extensive resources, the collaboration promises to bring new levels of innovation and creativity to users worldwide.