Evaluating only SeaRoutes’s profile at its peak — without knowing the outcome — the model ranked Competition as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
FOUNDING
SeaRoutes founded in Marseille to provide weather-optimized maritime routing APIs
FUNDING
Raised €2.1M from BPI France and Provence region innovation fund
PIVOT
Pivoted to carbon emissions routing calculator as IMO 2020 regulations took effect
SHUTDOWN
Ceased operations after failed acquisition talks; ARR stuck at €180K with no growth
Full Analysis
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Documented cause
SeaRoutes, a Marseille-based maritime routing and weather analytics API company, built a SaaS platform for weather-optimized voyage planning. The startup raised €2.1M from BPI France in 2018. Free alternatives from NOAA and commercial bundled offerings from established players like StormGeo and Weathernews undercut pricing. Revenue plateaued at €180K ARR in 2020 with no growth path. Founder Christophe Vandaele sought acquisition in 2021 but no buyer emerged; operations ceased in early 2022.
Lesson
“API weather routing for maritime needs 10x better accuracy or pricing than NOAA-based free tools, not incremental gains.”