Now under Canva's wing, Leonardo.Ai still faces stiff generative AI competition
The Australian company will now have Canva's resources at its disposal — but it will still compete with challengers like Midjourney for creative dollars.
Canva’s acquisition of Leonardo.Ai provides the design giant with valuable AI capabilities as it continues to challenge Adobe’s dominance in the enterprise space. But Leonardo.Ai’s founder stresses that the deal isn't just a win for Canva.
In addition to sharpening Canva with AI smarts, Leonardo.Ai will continue to compete with Midjourney and OpenAI’s DALL-E in the dynamic world of AI image generation. The key difference now is the financial backing from one of Australia’s largest tech companies, said co-founder and CEO JJ Fiasson.
“It gives us the ability to think bigger in terms of what we can tackle,” said Fiasson. “One of the paths we were looking at was raising a Series B and [using that] to scale our research and development capability, but I think this allows us to be a bit more aggressive.”
Launched in 2022, Leonardo.Ai was initially conceived as a tool for game designers to quickly build character models and sketch environments. Over 19 million people have signed up to use the platform, which now caters to designers of all stripes. While Leonardo.Ai is free to use, non-paying customers can only generate a limited number of images daily.
