Canva, the online design platform, has announced the acquisition of Leonardo.ai, a generative AI content and research startup, as it aims to become a leader in the rapidly evolving world of AI-powered design tools.
According to reports, Leonardo.ai’s technology will be integrated into Canva’s existing Magic Studio suite, significantly enhancing its generative AI capabilities.
The report further mentions that all 120 employees of Leonardo.ai will join Canva’s growing team and will operate independently under Canva. Existing tools and solutions offered by Leonardo.ai will also remain available.
Leonardo.ai is an artificial intelligence platform founded in 2022 and headquartered in Sydney that enables businesses to build, deploy and manage AI content models.
