Forward Industries and RockawayX co-lead $5M investment in OnRe to boost onchain reinsurance on Solana.

Forward Industries and RockawayX co-led a $5 million Series A funding round for OnRe, a Bermuda-licensed onchain reinsurance company on Solana. Forward plans to invest up to $25 million in OnRe's yield-bearing token, ONyc, which offers exposure to diversified reinsurance risk through Solana's DeFi ecosystem. This investment aligns with Forward's strategy to diversify its treasury income with durable, dollar-denominated yields beyond native staking. OnRe will use the funds to expand underwriting capacity and deepen Solana integrations, aiming to scale its onchain reinsurance platform globally.