A SCOTS tech firm has announced a new funding round as it looks to capitalise on the growing global market for interactive, multi-sensory and immersive experiences.
Pufferfish, the digital display technology business, is seeking £600k to expedite its growth plans and maximise commercial opportunities in the digital display market.
The Edinburgh-based firm says that investment will support GTM (go-to-market) activities, product innovation and new product launches.
Advances in technology have transformed the market from flat screen interactions to more engaging experiences combining sound, vision, data and touch.
Elaine Van Der Berg, Chief Executive at Pufferfish, said: “Interactive and immersive display experiences are more in-demand than ever as in-person visitor attractions, events and exhibitions not only normalise, but increase as the Covid-19 pandemic slows.
“Pufferfish is ready to capitalise on this opportunity as the market leading end-to-end provider of spherical interactive displays and services, with an unrivalled reputation for innovation and quality, and a brand used ubiquitously as a product identifier worldwide.
“There’s been a revolution in technology and consumers now demand more sophisticated digital experiences that blur the lines between reality and virtuality.
“We’re a leader in a growing market; now is the right time to accelerate our new product plans and shout louder about what we do.”
Pufferfish’s display systems provide for a range of uses and settings, including corporate conferences, museums and art exhibitions, as well as education institutions.
They can also integrate with other tech systems to translate complicated data into powerful immersive experiences.
Over the next year, the company is launching improved and upgraded versions of two of its core products, PufferSphereTM and PufferTouchTM, as well as three completely new products.
Pufferfish says the three new products will help provide a more personal one-to-one experience for users and allow users to peer into another world created by immersive technology.
A new head of creative will join the business in September, bringing decades of experience from MTV and Disney.
Elaine Van Der Berg added: “The business has almost entirely relied on repeat business and word of mouth to generate sales.
“Even with this ‘reactive’ approach, we have gained a reputation for quality and innovation and carved out a position as a global market leader.
“We have a client list including NASA, Google, IBM and BBC.
“The market is ripe, 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.
“This investment will allow us to scale at pace to meet growing worldwide demand.
“It will be used to support new talent in the business, research innovative technology to further improve our products, and roll-out a strong go-to market strategy, including a significant increase in outbound sales and marketing activity.”
Pufferfish is approaching existing investors to offer them first opportunity to increase their shareholding.
In addition, it is keen to speak to new investors to support its growth plans.
