EDINBURGH TECH FIRM PASSES TARGET FOR FUNDING

Spherical display technology firm Pufferfish has exceeded its £600,000 funding target. The Edinburgh-based business plans to use the money to expedite its growth plans in the market for interactive and immersive display experiences.

The bulk of the funding was secured from existing investors, including Scottish Enterprise and Par Equity, with additional investment coming from a small group of new private investors.

Elaine Van Der Berg, chief executive at Pufferfish, said: “We have a client list that reads like a who’s who of global brands, with the majority of the top ten biggest companies in the world utilising our range of products and services.

We now have the investment needed to capitalise on new opportunities and transform our increasing momentum into scale.”

The company’s current clients include Google, NASA, BBC, Amazon Prime and Aramco.

Its display units have been used in a range of settings, from museums and science centres to art exhibitions and educational institutions. The new capital will be used on further product innovation.

The company is in the process of launching upgraded versions of two of its core products, PufferSphere and PufferTouch, which will feature even sharper images and more powerful touch functionality, as well as three completely new products to be launched this year.

Van Der Berg continued: “The new products will go ‘deeper’ than we’ve ever seen before in terms of driving interaction and engagement.

We have the latest funding now secured and the beginnings of a new leadership team at the helm – with advances in technology fuelling the demand for multi-sensory, immersive, audio-visual experiences across a range of sectors, from art and entertainment to science and education, Pufferfish is primed and ready to continue to bolster its position as the market-leading end-to-end provider of spherical interactive displays and services.”

Andrew Castell, partner at Par Equity, commented: “Pufferfish endured first the pandemic, which hit its core markets very hard, and then the ensuing disruption to global supply chains.

That it has survived is a testament to its people, the strong appeal that its products have to its blue-chip customer base and to some very hard work from the new executive team. With the support of its investors, the company can now face the future with confidence.”