Platform Canva has acquired startup Leonardo.ai to strengthen its developments in generative artificial intelligence

Canva has announced the acquisition of Leonardo.ai, a startup specialising in generative artificial intelligence. The financial terms of the deal were not disclosed, but it is known to include both cash and stock. All 120 employees of Leonardo.ai will join Canva, maintaining independence in innovation and development.

Here's What We Know

Leonardo.ai, founded in 2022, initially focused on creating assets for video games, but later expanded its platform to create and train AI models in various industries such as fashion and advertising. Today, the company offers collaboration tools and a private cloud for models, including video generators and APIs to build its own technology infrastructure.

Canva plans to integrate Leonardo.ai's technology into its Magic Studio platform, which will enhance existing tools and introduce new generative AI capabilities. The acquisition is part of Canva's strategy to grow its AI solutions, which began in 2022 with copywriting assistant Magic Write.

Go Deeper:

Canva is an online graphic design platform founded in 2012. It allows users to create a variety of visual content such as presentations, posters, logos, social media publications and videos. Canva offers a wide range of templates and editing tools, making the design process accessible even for beginners. The platform also supports collaboration, allowing teams to work on projects in real time. Canva is available in a free version as well as paid plans with additional features for professionals and organisations.

Source: Canva, TechCrunch