SEAir Solutions – Développement technologique drones navals (USV)

Plateforme · 15.0/25

A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence AMF fonds propres-2023-28 currently valid, confirmed REGAFI 86190
Maximum status

A2 · Track Record 2.0/6faible

Performance indicators published but default rate, delay >90 days and actual yield not precisely disclosed
Recent platform (2023)
Partial penalty applied due to lack of verifiable numerical data

A3 · Rigueur de sélection 1.0/4faible

Selection process not publicly documented, no selection rate published
Platform recognised and regulated, limited track record

A4 · Santé financière 2.0/4

Share capital of 200,000 EUR, young independent platform (licence 2023), no distress signals identified
Viability to be confirmed over time
Member of France FinTech

A5 · Protection investisseurs 2.0/3

4-day reflection period plus mandatory continuity plan (agrément AMF, 1 point)
Segregated funds via Lemonway confirmed (1 point)
Secondary market not documented (0 points)

Projet · 25.0/75

B1 · Instrument & Structure 3.0/10faible

B1.1: 1/5 - Ordinary shares, equity instrument

B1.2: 2/3 - Intermediate SICAP in the course of registration, French law

B1.3: 0/2 - Capital subordinated to all creditors

B2 · Opérateur & Track record 8.0/15

B2.1: 4/4 - Richard Forest appointed, detailed ANEO background

B2.2: 2/5 - SME created in 2016, recurring losses, defence sector

B2.3: 1/4 - Prior fundraising cited but contradicted by FICI

B2.4: 1/3 - Registers not verified, operating losses

B3 · Garanties & Sûretés 0.0/15faible

B3.1: 0/9 - No documented preference rights on the securities

B3.2: 0/4 - No governance rights or contractual reporting

B3.3: 0/2 - No documented exit mechanism

B4 · Structure financière 5.0/15faible

Pre-money of approximately 7.2 M€, i.e. ~14x 2023 revenue, elevated
Negative EBITDA in 2023
Gearing of 0.6
Moderate dilution of 6.5%
2024-2025 accounts absent
Investor equity: 0 K€
Runway not specified

B5 · Pré-commercialisation 4.0/10faible

16 vessels sold and EU ARROW subsidy of 8 M€
Partnerships with MBDA and Thales, NATO exercises
No documented firm order book is evidenced

B6 · Permis & Maturité 3.0/5

Activity established since 2016 and SME eligible according to legal opinion
Financial statements after 2023 not provided
SICAP not yet registered

B7 · Marché & Localisation 2.0/3

Naval defence and drone market growing
Market trend live 'rising'
Exit valuation remains uncertain, without comparables provided

Points forts

✓Patented foils technology, 24 patents claimed.

✓European ARROW subsidy of 8 M€ for a 12 m prototype.

✓Partnerships cited with MBDA, Thales and NATO demonstrations.

✓Manager identified with documented entrepreneurial background.

✓IR-PME and PEA-PME eligibility confirmed by legal opinion.

Risques identifiés

!Contradictory amounts: FICI at 500 K€, note mentioning 300 K€ additional.

!Recurring operating losses; 2023 net result positive unexplained.

!Ordinary securities without preferential liquidity or exit mechanism.

!Valuation of approximately 14x 2023 revenue, without 2024-2025 accounts provided.

!Risk of total loss and illiquidity inherent to unlisted capital.

⚠ Avertissement sur les risques

Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.