The interest in productive artificial intelligence is increasing day by day, and technology companies are developing their own artificial intelligence tools or investing in companies developing these technologies. Finally Canvasa startup for generative artificial intelligence Leonardo.ai he bought. While the financial terms of the deal were not disclosed, Chief Product Officer Cameron Adams, one of Canva’s founders, announced that the deal was completed in exchange for some cash and some equity. Leonardo.ai’s All 120 employees will also join Canva.

Speaking on this subject, Adams said: “Leonardo is now backed by Canva resources. innovation, research and development will continue to operate independently from Canva, with a focus on We will continue to offer all of Leonardo’s existing tools and solutions. “This acquisition aims to deepen our user growth through our investments, including helping Leonardo develop its platform, expand its API business, and also invest in core model R&D.” he said.

It was founded in 2022

Leonardo.ai, in 2022 It draws attention as an established productive AI platform. Founded by Jachin Bhasme, JJ Fiasson, and Chris Gillis, Leonardo.ai stood out as a generative AI platform known for giving more control to its users. Leonardo.ai has even converted user drawings into realistic images in real time.

Leonardo.ai’s more than 19 million It has registered users and has been used to create over a billion images to date. The startup previously raised $38.8 million in funding.

Leonardo.ai, Canvas It was his second acquisition this year, eighth overall. Canva’s net worth is estimated at $26 billion.