The core technology for Stingray’s unique fibre-optic sensing system was originally developed by UK defence research laboratories in the mid-nineteen eighties, when its small size, high sensor count and extreme robustness were attractive for anti-submarine defence applications, including towed sonar arrays and permanently installed seabed arrays.

The technology was incorporated into QinetiQ, an international defence technology company, formed in 2001 from part of the UK government’s Defence Evaluation and Research Agency (DERA) and now Europe's largest science and technology organisation. The core technology has probably already had in excess of $50m spent on its development.

Stingray Geophysical was founded in March 2006. The company holds the exclusive licence from QinetiQ to commercialise the fibre-optic sensing technology for seismic Permanent Reservoir Monitoring and some other oil and gas applications.

Initial funding of £6.6m was raised through a consortium led by the specialist upstream venture-capitalist company Energy Ventures.  Investors in the consortium include Chevron Technology Ventures and StatoilHydro.

Stingray has received research grants from the UK’s Technology Strategy Board and Norway’s Demo 2000 programmes, as well as industry funding through a Joint Industry Programme supported by BP, Chevron, ConocoPhillips and StatoilHydro.