Canva Enhances AI Capabilities with Leonardo.ai Acquisition

Canva has taken a significant step in boosting its generative AI capabilities by acquiring Leonardo.ai, a startup known for its innovative AI content and research solutions. This acquisition is set to expand Canva’s AI tech stack and enhance its offerings.

• Acquisition Details: Canva has acquired Leonardo.ai for an undisclosed mix of cash and stock, bringing all 120 employees from Leonardo.ai, including the executive team, on board.

• Continued Independence: Leonardo.ai will operate independently, maintaining its focus on innovation while keeping its existing tools available to users.

• Expanding Capabilities: Leonardo.ai, founded in 2022, initially focused on video game asset creation before expanding to various industries. The platform offers tools for image creation, collaboration, and private cloud services, along with API access.

• Unique User Control: Leonardo.ai’s Live Canvas feature allows users to create photorealistic images through text prompts and quick sketches in real time.

This acquisition underscores Canva's commitment to advancing its generative AI tools, promising new and enhanced solutions that set new benchmarks in AI-driven design.