Sweden-based Web 3.0 startup Wingbits has successfully raised $5.6 million in a round led by Borderless Capital and Bullish Capital. This brings the startup’s total funding to $9.2 million as it seeks to implement the first decentralised physical infrastructure network (DePIN) for the aviation industry.
“Wingbits is a definitive use case for DePIN. They are on track to be the largest airplane tracking network on earth thanks to their well-designed incentives and execution,” said Álvaro Gracia, Partner, Borderless Capital.
This funding comes six months after Wingbits’ $3.5 million seed round, which has helped it to achieve rapid growth and expand its network.
“We are excited to partner with the Wingbits team, who in less than 18 months have already begun to disrupt a flight tracking industry with huge proven demand by leveraging blockchain technology to incentivise the supply of higher quality, lower latency data,” commented Alasdair Foster, CEO of Bullish Capital.
In its first year on testnet, the Wingbits network has scaled to 2,100 active stations (users), tracking 120,000 unique flights per day across 85 countries. There are also over 2,000 pre-orders for the custom-engineered hardware, which was produced in partnership with GEODNET.
Wingbits is looking to overturn the aviation industry, that relies on a network of volunters who install home antennas to collect flight data, for flight tracking. Companies sell this data to airports, airlines and other organisations to support their global operations, while volunteers receive nothing in return.
“The current model isn’t just exploitative – it’s inefficient,” said Robin Wingardh, CEO and Co-Founder, Wingbits. “We’re setting a new standard for transparency and collaboration in aviation. It’s about building a network that works better than the traditional alternatives, while treating contributors as valued stakeholders, who are the backbone of aviation data infrastructure.”
Wingbits directly compensates contributors, which it says incentivises better hardware placement, data quality and coverage in global blind spots. Similar to Helium with its vast network of 6G hotspots, Wingbits uses Solana’s Blockchain network to reward its contributors directly, using a transparent, global payment system.
At the heart of Wingbits’ network is its groundbreaking hardware. Manufactured by industry leaders, these devices will be the first cryptographically-secured ADS-B receivers, ensuring data is verifiable and reliable, addressing long-standing concerns about faked data and inaccurate reports in the aviation industry.
With air traffic projected to double by 2040 and the drone industry expected to surpass $55 billion by 2030, reliable, scalable tracking systems will become a key part for the aviation industry. With the latest funding, Wingbits plans to accelerate device deployment, expand its network into underrepresented regions, and refine its token-based rewards system.
“We recognised the commitment and ambition of Robin and Alex from the very start of their growth journey. This funding round reflects the quality of the technology they are building, the level of innovation in their business model and the speed at which they are scaling. The founders set out to create the world’s best flight tracking network and the impact Wingbits has already had on the market shows that they are delivering on that vision already,” said Oscar Westergard, Partner, Antler.
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