Pufferfish Ltd was incorporated in February 2004 but lay dormant until Autumn 2005. It was formed as a result of undergraduate research and development at the University of Edinburgh. The two founders initially developed the core ideas for the products as a joint final year project. Following their graduation they used their own resources to develop the ideas for commercial products while participating in the Edinburgh Pre-Incubation Scheme (EPIS), funded by Scottish Enterprise.
In 2006 the company won a SMART Scotland Award and an Ideasmart Design Award and raised seed funding through Braveheart Ventures SMART Equity Scheme. This has been followed by two further stages of fundraising which have seen Braveheart Ventures follow their initial investment and has also attracted Scottish Enterprise Co-investment Funding.