Wingbits Secures $5.6M for Innovative Flight Tracking System

Key Highlights:

Wingbits, a decentralized physical infrastructure (DePIN) startup, has raised $5.6 million.
This funding round was led by Borderless Capital and Bullish Capital.
The goal is to create a rewards-based flight tracking system using cryptographically-secured ADS-B receivers.

Overview

Wingbits focuses on applying decentralized network principles to the aviation sector, aiming to revolutionize traditional flight tracking methods. The total funding for Wingbits now stands at $9.2 million.

According to Wingbits, traditional flight tracking heavily relies on volunteers who collect data through personal setups, while they receive no compensation. This new model aims to change that by integrating blockchain technology into the system, ensuring that contributors receive rewards for their data sharing.

“Flight tracking has long relied on a global network of volunteers who install home antennas to collect flight data,” Wingbits explained in a recent announcement.
*Translation: * “El seguimiento de vuelos ha dependido durante mucho tiempo de una red global de voluntarios que instalan antenas en casa para recopilar datos de vuelos.”