Canva has acquired fellow Australia company Leonardo.AI which is in the generative AI content and research business.
The acquisition expands Canva’s offering of visual AI tools. Leonardo’s technology has been used to produce more than one billion images in the last 18 months — helping create assets for marketing and advertising campaigns, to visualising stunning interior concepts, refining mockups, and producing dynamic videos.
“This field is constantly evolving, and Leonardo’s technical leadership and community impact can’t be overstated. Bringing our worlds together will accelerate each of our teams’ work, taking us from strength to strength, and we can’t wait to get started,” said Cameron Adams, Co-founder and Chief Product Officer of Canva.
Founded in late 2022, Leonardo has an AI platform that has transformed visual content creation. The platform’s advanced foundational model enables users to swiftly turn concepts into high-quality visual assets, offering unparallelled control, efficiency, and style consistency. It empowers creators to instantly generate images in diverse aesthetics using simple prompts, produce videos, engage in AI-assisted sketching, and develop personalised models trained on custom datasets. This versatile tool has become a game-changer for millions of users in the realm of digital content creation.
Leonardo’s Phoenix foundational model takes creator control to the next level, with unprecedented prompt adherence, coherent, accurate text in images, and the ability to generate production-ready assets in one shot.
“Joining the Canva family means we can invest more deeply in scaling our AI research efforts globally, and move even faster to deliver new features and functionality to creatives worldwide,” said JJ Fiasson, Founder and CEO of Leonardo.AI.
Canva will continue to invest in Leonardo’s standalone platform while integrating its technology throughout the company’s suite of Magic Studio products.
Entelechy Asia 