Pico Tanks began development in early 2017. The original prototype was an endless runner, but it has since come a long way. Pico Tanks was unveiled at PAX Australia 2017 with networking, movement, combat, and user interface all up and running. By PAX Australia 2018, new maps and game modes were introduced, with many new customisation options, gameplay adjustments, and metagame making it already feel like a full and polished game. In December of that year, Pico Tanks moved into the next phase of development by starting a closed beta program.

In 2019, development rapidly progressed thanks to feedback from beta testers. Pico Tanks won an award at SXSW for Best Indie Mobile Game and was a finalist at Casual Connect London. In October, Panda Arcade announced that Pico Tanks would be coming to Australia, New Zealand, and the Philippines November 28, with a global launch scheduled for January 31, 2020.

Post-launch, Pico Tanks continues to evolve with every update! Among the new and fun additions: tank parts, maps, gamemodes, gameplay features, and mechanics! As well as that, performance optimisations and balancing changes are added frequently.