TechFlow reported on September 12 that, according to Coindesk, Stockholm-based blockchain protocol Wingbits has announced the completion of a $3.5 million seed funding round. The round was co-led by prominent crypto investment firms Borderless Capital and Tribe Capital, with participation from early-stage venture firm Antler and several angel investors. Wingbits focuses on building a decentralized physical infrastructure network (DePIN) on the Solana blockchain, aiming to expand and optimize global flight tracking systems.
According to the Wingbits team, the protocol uses an incentive mechanism to reward flight data collected by antennas maintained by enthusiasts, based on metrics such as data quality, coverage, and uptime. The protocol also features a global performance leaderboard to encourage users to continuously improve their equipment performance. Data shows that the number of nodes on the Wingbits platform has rapidly grown from 40 at the end of 2023 to nearly 2,000 today, reflecting the project's strong momentum. This funding will provide critical financial support for Wingbits to further enhance the technical architecture and market expansion of its decentralized flight tracking network.
