#Aviation DePIN company Wingbits raises $5.6 million in funding#

Aviation DePIN company Wingbits recently announced the completion of a $5.6 million funding round, led by Borderless Capital and Bullish Capital, with participation from DeFi Partners and Sky Ventures, bringing its total funding to $9.2 million. Wingbits focuses on the aviation industry, aiming to leverage decentralized physical infrastructure (DePIN) technology to implement a reward-driven flight tracking model through crypto-secured ADS-B receivers. Currently, traditional flight tracking relies heavily on volunteers installing antennas to collect data, which is then resold to airports and airlines, generating hundreds of millions of dollars in revenue, while volunteers receive no compensation. Wingbits' DePIN model will change this status quo, incentivizing more people to participate in data collection through a reward system and providing a safer, more transparent flight tracking service for the aviation industry. DePIN is considered the blockchain version of cloud computing services. Wingbits' successful funding round demonstrates the enormous potential of DePIN technology in the aviation sector, and is expected to drive a transformation in aviation data collection and sharing models in the future.