Wingbits, a Stockholm-based protocol, has announced that they have secured $3.5 million in seed funding for their DePIN flight-tracking network, which is built on the Solana blockchain. The funding round was led by Borderless Capital and Tribe Capital, with participation from Antler and various angel investors.
The team at Wingbits explained that their platform rewards individuals for the quality of data captured by antennas maintained by amateurs and enthusiasts. Users are incentivized based on their performance, coverage, and uptime, with global leaderboards available to showcase the top-performing antennas. Since its launch, the number of nodes on the Wingbits platform has grown significantly, with close to 2,000 nodes currently active.
This innovative approach to flight tracking has garnered significant interest from investors and industry participants, positioning Wingbits as a key player in the development of decentralized aviation technologies. With the support of their backers, Wingbits aims to continue expanding their network and revolutionizing the way flight data is collected and shared.
