Canva is acquiring Leonardo.ai, an Australian generative AI content and research startup.

With this acquisition, Canva will gain access to Leonardo.ai’s advanced, user-customizable text-to-image and text-to-video generators, enhancing its existing capabilities.

Leonardo.ai will continue developing its web platform but will also be integrated into Canva’s Magic Studio products, like the Magic Media image and video generator.

Check out the announcement video

Canva has been making strides in AI for several years now. 

They launched the Background Remover tool in 2019 and acquired the visual AI company Kaleido in 2021. In 2022, they introduced the first version of their Text to Image tool, and by 2023, they had unveiled their full suite of AI-powered products, Magic Studio. With Leonardo.ai now part of Canva, the future looks even more promising.