Gamma acquires Accel-backed design startup Lica
Presentation software company Gamma has acquired the design startup Lica to establish a new design research lab. The acquisition aims to leverage Lica's expertise in AI-driven visual communication to expand Gamma's product capabilities.
Why it matters
Consolidation in the AI design space highlights the ongoing trend of established startups acquiring niche AI firms to accelerate product innovation and market share.
Presentation startup Gamma has acquired Accel-backed design startup Lica in a bid to build out its own design research lab, TechCrunch has exclusively learned. Lica’s co-founders will lead the effort.
Lica started off as an app that could turn screenshots and recordings into project presentations and videos. Founded by Priyaa Kalyanaraman and Purvanshi Mehta in 2023, the company a year later raised $4 million from investors including Accel, South Park Commons, and Village Global. Over the past couple of years, it has focused on working with e-commerce sites to create marketing videos that adhere to brand guidelines.
Kalyanaraman said Lica wanted to build AI models around communication methods, including video and design, and the founders were familiar with Gamma’s CEO, Lee Grant, as both companies are backed by Accel and South Park Commons. Those conversations eventually led to the acquisition.
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