Canva announced the acquisition of generative AI startup Leonardo.ai, to enhance its offering of visual tools powered by artificial intelligence. Leonardo.ai is known for its technology for generating images and videos from text on a platform that can be customized by users.
With the acquisition, Canva aims to integrate Leonardo.ai's technology into its Magic Studio product suite, which includes AI-based image and video generators such as Magic Media.
Canva and Leonardo.ai
Leonardo.ai will continue to operate independently, developing its web platform and maintaining its user base, which already totals more than 19 million people in two years of operation.
The integration with Canva will allow Leonardo.ai to accelerate its innovation and expand the reach of its tools, leveraging Canva's financial resources and expertise.
With the
acquisition, Canva aims to not only strengthen the Leonardo.ai platform but
also invest in the research and development of new fundamental models, as well
as support the B2B (business-to-business) adoption of AI.
🚀 Exciting news: Welcome, @LeonardoAi_! 🚀
— Canva (@canva) July 30, 2024
Since 2013, Canva's mission has been to empower everyone to design. Today, we're thrilled to join forces with Leonardo AI, a leader in generative AI. 🎉
Leonardo’s team and tech will boost our AI capabilities, enhancing our products… pic.twitter.com/qe4wy2ttm3
The graphic design platform's announcement this Tuesday (30) highlights Leonardo.ai's “cutting-edge capabilities, including accurate, prompt interpretation, training speed, inference pace, and support for multi-image prompts” that will be integrated into the Magic Studio.
“By accelerating Leonardo’s AI technology and integrating it with Canva, we can further empower all types of professionals to push the boundaries of the creative and strategic aspects of their work, resulting in faster, more innovative, and more engaging visual communication.”, informs the statement.