Forward Industries Secures $1.65 Billion PIPE Financing

Forward Industries has raised $1.65 billion through a PIPE financing round led by Multicoin Capital, Jump, and Galaxy, as announced by co-founder Kyle Samani on September 12th.

This significant move into Solana establishes Forward Industries as a pivotal institutional participant, catalyzing SOL price growth and market liquidity, with substantial backing from major crypto investors.

Forward Industries’ $1.65B Boost to Solana Ecosystem

Forward Industries secured a $1.65 billion PIPE financing round to cultivate a Solana (SOL) treasury, drawing significant support from Multicoin Capital, Jump Crypto, and Galaxy Digital. Kyle Samani, co-founder of Multicoin Capital, personally invested $25 million in the initiative and has been appointed as Chairman of Forward Industries, indicating a strategic shift for the company toward digital asset engagement.

The substantial investment aims to bolster the Solana ecosystem by enhancing liquidity and institutional growth. This positions Forward Industries as a pivotal player within the Solana network, altering its focus to include digital asset acquisition, primarily stacking Solana.

Market reactions were swift, with Forward Industries’ shares climbing initially by 13% in pre-market trading. Kyle Samani highlighted Solana’s anticipated impact on global markets, stating:

This is just the beginning of Solana’s role in global markets. With Galaxy, Jump, and Multicoin behind us, Forward Industries has the platform to accelerate adoption on a massive scale.

Solana’s Market Performance and Strategic Implications

Did you know? Solana is known for its high throughput and low transaction costs, making it a popular choice for decentralized applications.

CoinMarketCap reports Solana (SOL) currently trades at $238.15, commanding a market capitalization of $129.15 billion, with a 24-hour trading volume of $12.89 billion, reflecting a 5.84% price increase in the past 24 hours as of September 12, 2025. The 90-day price change stands at 63.71%.

Experts from Coincu note that Forward Industries’ strategic investment in Solana may solidify its role as a leading institutional asset in the blockchain space, an approach akin to larger corporate treasury models. This move is expected to recalibrate market dynamics, enhancing Solana’s standing among institutional investors.