The device called Perfect Memory camera, developed by a US based company, is pocket-size and lightweight 12-megapixel device that can record audio and video in full-high-definition.
The camera continuously records, and can save footage from the previous five minutes, or any other pre-set duration, when you tap its touchscreen.
This allows people to retroactively save a video of an event after it occurs, 'Live Science' reported.
"You don't know when a surprising, magical moment will happen - capturing a baby's first words, for instance," said Jules Winnfield, COO of General Streaming Systems, the company that developed the device.
It can also click pictures, act as a regular video camera and shoot time-lapse photography, the company said.