Stockholm-based startup Wingbits has secured $3.5 million in an oversubscribed seed funding round to expand its blockchain-based flight tracking platform. The round was led by US VC firms Borderless Capital and Tribe Capital, with support from Antler, an early backer of the startup. The firm aims to reward flight tracking enthusiasts by sharing revenue through blockchain, incentivizing the global flight tracking community to improve data reliability and coverage.
Wingbits uses blockchain to reward users who host flight tracking antennas based on their performance, coverage, and uptime. By integrating Automatic Dependent Surveillance-Broadcast (ADS-B) data, Wingbits ensures accurate tracking of commercial flights. Enthusiasts contribute data, and the platform cryptographically verifies transmissions and proof-of-location, making the data both secure and reliable for aviation industry customers.
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Building a Global Network
Since its beta launch, Wingbits has expanded from 40 antennas in 2023 to 1,600 globally, driven by word of mouth and support from the community. The startup’s Discord channel provides technical support, helping users maximize their antenna performance. With this rapid growth, the swedish startup aims to create the world’s best flight tracking network.
Securing the Future with Blockchain
To combat the risk of spoofed or fake data, the company plans to release custom hardware equipped with cryptographic chips and GPS modules, ensuring data integrity and accuracy. The funding will also be used to hire data scientists and developers to further develop the platform, while expanding sales and marketing efforts.
