Diligence memo · auto-generated · as of July 2, 2026
Forward Industries, Inc.
Forward Industries, Inc. has raised $1.7B over 3 rounds; too few niche peers to rank its valuation yet.
Businessfiled
Forward Industries, Inc. operates in Crypto / Web3, based in HAUPPAUGE. As the fastest and most scalable blockchain, Solana is built to power global markets. Forward Industries is capitalizing on that momentum.
Sub-sector tags: crypto/web3.
Capital & rounds (filed)filed
Forward Industries, Inc. has raised $1.7B in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Growth/Late (a round over $400M).
Largest single filing: $1.6B on 2025-09-10.
Most recent recorded round closed around 2025-09-10.
Valuation (modeled)modeled
Provath models Forward Industries, Inc. at approximately $15.3B (range $10.6B–$17.6B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Historic cadence: a new round about every 73 months.
Last raise 10 mo ago; this sector typically re-raises about every 7 months.
Slightly overdue versus sector cadence.
The last round stepped up 4008.0× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 100% of Crypto / Web3 peers (196 compared).
Modeled value ranks above 99% of those peers.
Peoplefiled
20 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.