Stockholm-based Wingbits, a decentralized physical infrastructure (DePIN) startup focused on aviation, has raised €5.3 million ($5.6 million USD) in funding.
The round was co-led by Borderless Capital and Bullish Capital, with participation from investors including Spartan Group, Tribe Capital, Antler, SNZ, and Heartcore.
This new funding brings Wingbits’ total capital raised to €8.79 million ($9.2 million USD), following a previous €3.5 million seed round six months ago.
Transforming Flight Tracking with Decentralization
Wingbits aims to disrupt the traditional flight tracking model, which relies on volunteers installing antennas to collect data—often without compensation. Unlike existing platforms such as FlightRadar24 and FlightAware, which monetize this data without rewarding contributors, Wingbits leverages blockchain technology to create a fairer, more transparent system.
Co-founder and CEO Robin Wingardh emphasized the company’s vision:
“The current model is both exploitative and inefficient. Our goal is to build a flight tracking network that values contributors as stakeholders while delivering higher-quality, real-time aviation data.”
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Leveraging Blockchain and Incentives
The startup utilizes Solana’s blockchain to compensate contributors with $WINGS tokens, incentivizing better hardware placement and higher-quality data collection. The company’s cryptographically secured ADS-B receivers provide verifiable and reliable flight tracking information, offering unprecedented transparency and accuracy.
Rapid Growth and Market Impact
In just 18 months, Wingbits has expanded its flight tracking network six times faster than traditional providers, scaling to:
- 2,100 active stations across 85 countries.
- Tracking 120,000 flights daily.
- Over 2,000 pre-orders for its proprietary DePIN hardware, developed in partnership with GEODNET.
Future Expansion and Tokenomics
With fresh capital, Wingbits plans to:
- Expand device deployment to cover more global airspace.
- Enhance its blockchain-based incentive system ahead of its upcoming mainnet launch.
- Improve network resilience and data quality to support the growing demand from the drone and commercial aviation industries.
Alasdair Foster, CEO of Bullish Capital, stated:
“Wingbits is disrupting a high-demand industry by leveraging blockchain to provide high-quality, low-latency flight tracking data, which has immense commercial potential.”
Looking Ahead
As global air traffic and drone operations continue to rise, Wingbits is well-positioned to capitalize on the demand for reliable, decentralized flight tracking solutions. Investors believe the startup has the potential to become the industry leader by combining blockchain’s transparency with aviation’s need for accurate, real-time data.
