HONG KONG — Wingbits, a blockchain-powered aviation data network, is set to add satellite-tracking capabilities as it looks to make further inroads into the $22 billion aviation data industry. The Swedish company is launching a satellite with Spire Global, which operates a low-orbit satellite constellation. The satellite will be carried by SpaceX’s Transporter-13 mission in late February from Vandenburg Space Force Base in California.
Discussing the launch during Consensus Hong Kong, Robin Wingardh, Wingbits’ CEO and co-founder, said the satellite complements the startup’s 2,200-strong on-the-ground node network managed by flight enthusiasts around the world.
The decentralized physical infrastructure network, or DePIN, project rewards data providers with Solana testnet tokens. The existing flight-tracking industry also relies on flight enthusiasts to supply data on airplane movements. Companies such as FlightAware and Flightradar24 sell data to aviation analytics companies, airlines, insurers and others, but don’t reward the enthusiasts for their work, Wingardh said.
Wingbits already has data contributors from over 90 countries tracking some 120,000 unique flights daily. It plans to create a worldwide network through the reward system, which allows tokens to be exchanged for air miles, airport lounge access and other services.
Wingardh said the satellite, when launched, will allow the company to verify data from the ground, providing protection against “spoofing” by cross checking flight data from the DePIN against data from the satellite, Wingbits hopes to ensure its information is more accurate than its competitors’.
The company recently closed a second seed round for $5.6 million from Borderless Capital, Bullish Capital (part of the Bullish Group that also owns CoinDesk) and others.