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

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.

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

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