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Canva, a graphic design company, announced its acquisition of Leonardo.Ai, a GenAI startup. All 120 employees and the executive team of Leonardo.Ai will now join Canva.
Image source: Canva
Leonard.Ai is an Australian startup formed in 2022 to create video game assets. It later started developing AI models for image creation.
Image source: Leonardi.AI
Cameron Adams, Canva's co-founder, said, “The merger will allow Canva to integrate Leonard.Ai's video and image generation models into its products.”
Image source: Canva
Canva has been taking over various platforms to enhance its AI ecosystem. Leonardo.Ai is its second acquisition this year, as it acquired Affinity for $380 million earlier this year.
Image source: Canva
In addition to Leonard.Ai, Canva has acquired companies such as Kaleido, Zeetings, Pixabay, Pexels, and Smartmockups.
Image source: Canva
Canva has said that Lenonard.Ai will continue to operate independently, focusing on rapid innovation and product development backed by Canva’s financial resources and expertise.
Image source: Leonardo.AI