The Ultra-Fast Flash Observatory (UFFO) is a space mission to detect the early moments of an explosion from Gamma-ray bursts (GRBs), thus enhancing our understanding of the GRB mechanism. It consists of the UFFO Burst & Trigger telescope (UBAT) for the recognition of GRB positions using hard X-ray from GRBs. It also contains the Slewing Mirror Telescope (SMT) for the fast detection of UV-optical photons from GRBs. It is designed to begin the UV-optical observations in less than a few seconds after the trigger. The UBAT is based on a coded-mask X-ray camera with a wide field of view (FOV) and is composed of the coded mask, a hopper and a detector module. The SMT has a fast rotatable mirror which allows a fast UV-optical detection after the trigger. The telescope is a modified Ritchey-Chrétien telescope with the aperture size of 10 cm diameter, and an image intensifier readout by CCD. The UFFO pathfinder is scheduled to launch into orbit on 2012 June by the Lomonosov spacecraft. It is a scaled-down version of UFFO in order to make the first systematic study of early UV/optical light curves, including the rise phase of GRBs. We expect UBAT to trigger ~44 GRBs/yr and expect SMT to detect ~10 GRBs/yr.