Canva Acquires Leonardo.ai to Expand Generative AI Capabilities
Canva purchases generative AI startup Leonardo.ai to enhance its tech stack and broaden its artificial intelligence offerings. The acquired company operates independently while leveraging Canva's extensive resources.
Canva acquires Leonardo.ai, a generative AI content and research startup, to broaden the scope of its AI tech stack. The deal involves a mix of cash and stock, and all 120 employees of Leonardo.ai join Canva as part of the agreement. The Sydney-based startup brings specialized expertise in AI model training and image generation to Canva's growing platform.
Leonardo.ai operates independently within Canva with a focus on rapid innovation, research, and development. The startup originally focuses on video game asset creation before expanding to serve industries like fashion, advertising, and architecture. It offers collaboration tools, a private cloud for models, video generators, and APIs that allow customers to build their own tech infrastructure.
The platform differentiates itself from other generative AI art tools by providing users with a high level of control over the creative process. Features like Live Canvas enable users to sketch alongside text prompts to generate photorealistic images in real time. With Canva's financial backing, Leonardo.ai plans to expand its API business and invest heavily in foundational model research and development.