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Forward Industries Raises $1.65 Billion for Solana-Centric Strategy

Forward Industries Raises $1.65 Billion for Solana-Centric Strategy

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by Giorgi Kostiuk

2 hours ago

Forward Industries has secured $1.65 billion in funding, marking a significant pivot in its strategy towards Solana.

Forward Industries Investments

Forward Industries has completed a $1.65 billion financing round led by Multicoin Capital, Jump Crypto, and Galaxy Digital. Multicoin Capital co-founder Kyle Samani invested $25 million and has taken the position of chairman.

Solana-Based Strategy

With this funding, the company shifts its focus to acquiring SOL tokens, paving the way for a Solana-native treasury. This strategy mirrors approaches seen in the Bitcoin space.

Market Response

Following the investment announcement, Forward Industries' stock rose by 72%. The market showed significant interest in Solana, signaling a heightened focus from institutional investors.

The $1.65 billion investment by Forward Industries and its pivot towards Solana opens new avenues for the company and underscores the growing interest in Solana within institutional circles.

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