Forward Industries invests $5M in OnRe reinsurance platform

Forward Industries Inc. (NASDAQ: FWDI) and RockawayX co-led a $5 million Series A investment round in OnRe, a Bermuda-licensed onchain reinsurance company. Forward Industries separately plans to deploy up to $25 million into ONyc, OnRe's yield-bearing token on the Solana blockchain.

OnRe operates as a regulated reinsurance company under Bermuda's Insurance Act and Digital Asset Business Act. The company's ONyc token provides exposure to a diversified portfolio of underwritten reinsurance risk and is integrated across Solana's decentralized finance platforms for use as collateral in lending and borrowing.

"Forward's investment in OnRe and ONyc marks a natural extension of our Solana treasury strategy—expanding beyond native staking yield into high-quality, real-world cash flows," said Ryan Navi, Chief Investment Officer of Forward Industries.

Viktor Fischer, CEO of RockawayX, stated the firm initially seeded OnRe and provided early liquidity before scaling capital through curated vaults. RockawayX manages over $1.5 billion in assets and has backed more than 100 crypto projects since 2018.

OnRe will use the funding to scale underwriting capacity, expand protocol integrations within the Solana ecosystem, and grow its team. Dan Roberts, Co-Founder and CEO of OnRe, described the round as marking the beginning of the company's scaling phase.

Forward Industries describes itself as a Solana-focused digital asset treasury company with a strategy to acquire, stake and invest in SOL-related assets and businesses. The investment follows the company's previous initiatives including operating a Solana validator and launching fwdSOL.

The information is based on a company press release.

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