Canva has launched a new text-to-image generator based on the Phoenix Foundation model technology it acquired earlier in 2024 with the purchase of Leonardo.ai.
Canva claims that the new Dream Lab tool can generate up to 15 different types of images, including 3D renderings and illustrations, and can also reference other images to refine the output, making the output more reliable.
It is also capable of generating multi-subject images and photorealistic portraits.
Canva Dream Lab
Dream Lab’s unveiling comes as Canva’s popularity continues to rise: it now has 200 million monthly users, marking a 130% year-over-year increase. The company’s annual revenue also recently hit $2.5 billion, which also happens to be the number of presentations its users have created.
The announcement, which details a number of product launches and enhancements, also sees the company boasting the 10 billion applications its Canva AI tools have seen to date – a jump of three billion since the Leonardo.ai acquisition.
As part of this effort, Canva is also introducing more than 40 new features to the Visual Suite, including updates to Canva Docs, enhanced video editing tools and the introduction of interactive features such as polls, quizzes and dynamic charts.
Additionally, in recognition of its growing user base in the UK, Canva has opened two new buildings in Hoxton Square, London, tripling the size of its campus in the city.
