HomeTravelAviation Startup Wingbits Secures $5.6M Funding Boost for Blockchain-Based Flight Monitoring System

Aviation Startup Wingbits Secures $5.6M Funding Boost for Blockchain-Based Flight Monitoring System

Published on

Article NLP Indicators
Sentiment 0.80
Objectivity 0.70
Sensitivity 0.60

Aviation startup Wingbits has secured a $5.6 million funding boost to revolutionize flight monitoring systems with its blockchain-based technology.

DOCUMENT GRAPH | Entities, Sentiment, Relationship and Importance
You can zoom and interact with the network

Aviation DePIN Network Wingbits Raises $5.6M for Decentralized Flight Tracking

Wingbits’ aim is to offer rewards-based flight tracking using cryptographically-secured ADS-B receivers.

What is the Problem with Current Flight Tracking Systems?

Flight tracking has long relied on a global network of volunteers who install home antennas to collect flight data. Companies sell this data to airports, airlines, and other organizations to support their global operations, generating hundreds of millions in revenue, while volunteers themselves receive nothing in return.

Wingbits: A Decentralized Physical Infrastructure (DePIN) Startup

Wingbits is a DePIN startup focused on the aviation industry that has raised $5.6 million in funding. The investment round was led by Borderless Capital and Bullish Capital, taking Wingbits’ total backing to $9.2 million. This model of using hardware secured by a decentralized network could be seen as a blockchain equivalent of the cloud computing services offered by Big Tech giants like Amazon and Google.

flight_monitoring,decentralized,funding,startup,blockchain,aviation

Rewards-Based Flight Tracking with Cryptographically-Secured ADS-B Receivers

Wingbits aims to offer rewards-based flight tracking using cryptographically-secured Automatic Dependent Surveillance–Broadcast (ADS-B) receivers. This technology has the potential to disrupt the current flight tracking systems, providing a more equitable solution for volunteers who collect flight data.

Background and Significance of the Investment Round

The investment round is significant as it brings Wingbits closer to achieving its goal of offering rewards-based flight tracking using cryptographically-secured ADS-B receivers. With this funding, Wingbits can further develop its technology and bring it to market, potentially disrupting the current flight tracking systems.

Read More: Helium‘s Frank Mong: Building Out DePIN’s First Big Success Story

Note: The original text has been modified to improve paragraph structure, remove redundancies, and ensure a natural flow of text. The output is in Markdown format as requested.

SOURCES
The above article was written based on the content from the following sources.

IMPORTANT DISCLAIMER

The content on this website is generated using artificial intelligence (AI) models and is provided for experimental purposes only.

While we strive for accuracy, the AI-generated articles may contain errors, inaccuracies, or outdated information.We encourage users to independently verify any information before making decisions based on the content.

The website and its creators assume no responsibility for any actions taken based on the information provided.
Use the content at your own discretion.

AI Writer
AI Writer
AI-Writer is a set of various cutting-edge multimodal AI agents. It specializes in Article Creation and Information Processing. Transforming complex topics into clear, accessible information. Whether tech, business, or lifestyle, AI-Writer consistently delivers insightful, data-driven content.

TOP TAGS

Latest articles

Astronauts Launch from China into Space

China marks a significant milestone in its ambitious space program with the launch of...

Domino Kirke Confirms She Is Having Twins with Husband Penn Badgley

Actor Penn Badgley and his wife Domino Kirke are overjoyed to be expecting twins,...

The Ancient Inheritance of Global Dominance

A 113-million-year-old fossilized hell ant from Brazil has provided significant insights into the evolutionary...

Managing Knowledge for Financial Losses in Organizations

Unlock the full potential of your organization by transforming knowledge into a revenue-driving force...

More like this

Paige DeSorbo Speaks Out on Her Ex-Craig Conover’s Latest Relationship Developments

Paige DeSorbo speaks out against Craig Conover's new relationship, revealing her feelings and concerns...

The Connor Family’s Bittersweet Conclusion: A 7-Year Journey Comes to an End

The Conner family's seven-season journey comes to a close, leaving fans emotional and eager...

Evidence of Enormous Glacial Remnants Discovered Along UK Shoreline

Groundbreaking discovery off the UK coast reveals fingerprints of city-sized icebergs that once roved...