Stockholm-based Wingbits, which uses real-time flight data to reduce delays and improve air travel, has raised $5.6 million to transform plane tracking with DePIN technology. Borderless Capital and Bullish Capital led the round.
- Established in 2023 by Robin Wingårdh and Alex Lungu, Wingbits is a community-driven network that enhances aviation safety and efficiency through advanced flight tracking technology, primarily using Automatic Dependent Surveillance-Broadcast (ADS-B).
- Wingbits enhances global air travel by analyzing real-time flight data. Contributors improve safety and operations, connect with a passionate community, and gain insights into aviation technology.
- Within its first year on the Solana testnet, Wingbits claims to have scaled to 2,100 active stations, tracking 120,000 flights daily across 85 countries. Additionally, it reports over 2,000 pre-orders for its custom DePIN hardware, developed in partnership with GEODNET.
“The current model isn’t just exploitative – it’s inefficient. 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," claims Wingbits CEO and co-founder Robin Wingardh.
- In September 2024, the startup raised €3.1 million in a seed round to revolutionize the flight-tracking industry. The round was led by Borderless Capital and Tribe Capital, with support from Antler.
Details of the deal
- The funding round was led by Miami-based Borderless Capital, a Web3-focused investment firm, and Bullish Capital, part of Bullish Group, is an investment firm that connects traditional finance with the digital economy through investments, the Bullish Exchange, and CoinDesk.
“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,” Partner at Borderless Capital, Álvaro Gracia, commented.
- Spartan Group, Tribe Capital, Antler, SNZ, and Heartcore, also joined the round.
- The fresh funds will enable Wingbits to accelerate hardware deployment, expand its network into new regions, and refine its tokenomics before the mainnet launch.
