Forward Industries Secures $1.65 Billion for Solana-Focused Digital Asset Treasury

Forward Industries Inc., a publicly traded company, has secured a substantial $1.65 billion in funding through a private investment in public equity (PIPE) offering led by Galaxy Digital, Jump Crypto, and Multicoin Capital. This investment will be used to build a Solana-focused digital asset treasury. The size of the commitment is noteworthy as it represents a significant financial backing for a micro-cap company like Forward Industries with annual revenues of just $33.4 million in fiscal 2024.