Australia’s Canva Buys European Design Startups to Fuel Growth

Canva Inc., the most valuable technology startup in Australia, acquired two European companies as the online design platform doubles down on visual communications tools.

Canva took full control of Kaleido.ai, an Austrian visual artificial-intelligence startup behind a popular design tool to instantly remove background from a photo or video. It also purchased Smartmockups in the Czech Republic, which allows e-commerce entrepreneurs and other users to quickly and easily create mockups for t-shirts, mugs and other items.

Background removal tool on Canva’s design platform.

Source: Canva

“With everyone spending so much time on the internet, the need to communicate visually is becoming a critical skill for individuals ...