Wingbits Secures $3.5M in Seed Funding for Decentralized Flight-Tracking Protocol

Thursday, Sept. 12

Wingbits, a Stockholm-Based Flight-Tracking Protocol, Secures $3.5M in Seed Funding

Wingbits, an innovative protocol based in Stockholm, has announced the successful raising of $3.5 million in seed funding. This initiative aims to establish a decentralized flight-tracking network leveraging the Solana blockchain technology. The funding round was spearheaded by prominent investors including Borderless Capital and Tribe Capital, along with contributions from Antler and several angel investors.

The Wingbits team elaborated on their vision, stating: “Our platform incentivizes the quality of data collected by antennas operated by enthusiasts and amateurs. Participants are rewarded based on various performance metrics such as data accuracy, coverage area, and operational uptime. Additionally, we feature global leaderboards that allow users to compare the performance of their antennas.” Since its inception, Wingbits has seen substantial growth; at the end of 2023, the platform hosted 40 nodes, which has now surged to nearly 2,000 nodes.

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