Stockholm-based startup Wingbits, specializing in decentralized physical infrastructure (DePIN) for the aviation sector, has raised $5.6 million in funding, increasing its total capital to $9.2 million. This latest funding round, led by Borderless Capital and Bullish Capital, underscores the growing interest in advancing aviation technology through decentralized networks. The company claims its innovative approach rewards contributors directly and prioritizes data transparency, setting it apart in the flight tracking industry. The technology taps into Solana’s blockchain to optimize its model.
Why does Wingbits stand out?
Wingbits introduces a new structure to flight tracking by compensating contributors who provide critical data. Traditional systems, like FlightRadar24 and FlightAware, rely on volunteers who receive no financial benefits despite generating substantial revenue for the companies. Wingbits CEO Robin Wingardh views this model as both inefficient and inequitable. He stated,
“It’s about building a network that works better than traditional alternatives while treating contributors as valued stakeholders, who are the backbone of aviation data infrastructure.”
The company employs Solana’s blockchain to issue $WINGS tokens, incentivizing contributors for high-quality hardware placement and data accuracy. Additionally, its DePIN hardware—cryptographically-secured ADS-B receivers—ensures a transparent and verifiable data stream, further enhancing reliability in aviation operations.
What are Wingbits’ recent achievements?
Wingbits reports that it has grown its flight tracking network six times faster than any competitor. Within its first year on Solana’s testnet, the network reached 2,100 active stations across 85 countries, tracking 120,000 flights daily. The company has also received over 2,000 pre-orders for its proprietary hardware, developed in collaboration with GEODNET. Investors like Alasdair Foster from Bullish Capital recognize the disruptive potential of Wingbits, noting,
“In less than 18 months, they’ve begun to disrupt a flight tracking industry with huge proven demand by leveraging blockchain technology.”
Past reports show steady growth for Wingbits, which had previously raised $3.5 million in a seed round only six months ago. The company’s accelerated scaling, combined with a direct-to-contributor compensation model, has enabled it to tap into a large base of flight-tracking enthusiasts worldwide, a resource that traditional competitors largely overlook.
As air traffic and drone technologies advance, the necessity for precise flight tracking systems becomes more pronounced. Wingbits aims to utilize its latest funding to expand its device deployment, refine its tokenomics, and prepare for the mainnet launch. The funding will also support targeted scaling, ensuring robust network coverage in underserved areas.
Industry observers argue that Wingbits’ strategic use of blockchain technology and its incentive-driven model could mark a shift in how aviation data is collected and utilized. Lionel Pek of Spartan Group commented,
“Being built on Web3 rails allows Wingbits to incentivize users to provide top-quality ADS-B feeds with the most reliable up-time and the lowest latency.”
Wingbits’ rapid developments position it uniquely within the flight tracking industry. By addressing inefficiencies and creating a more inclusive contributor ecosystem, the company seeks not only to optimize data collection but also to redefine stakeholder collaboration in aviation.
