Core Insights - Veea Inc. and Vapor IO have partnered to provide turnkey AI-as-a-Service (AIaaS) solutions, enabling enterprises and municipalities to implement AI capabilities without the need for capital-intensive infrastructure [1][5][11] Company Overview - Veea Inc. specializes in hyperconverged heterogeneous Multiaccess Edge Computing (MEC) and AI-driven cybersecurity solutions, aiming to streamline AI application at the edge [1][6] - Vapor IO focuses on delivering ultra-low latency AI solutions through its Zero Gap™ AI platform, which integrates private 5G networks and advanced computing technologies [1][9] Technology and Solutions - The Veea Edge Platform™ processes raw data at the Device Edge, ensuring low latency, data privacy, and sovereignty for various enterprise applications [2][4] - Vapor IO's Zero Gap AI utilizes Supermicro MGX servers and NVIDIA GH200 Grace Hopper Superchip to support simultaneous AI inferencing and model training [3][10] - The partnership aims to create a unified platform that combines Veea's edge computing capabilities with Vapor IO's AI services, facilitating seamless workload distribution and real-time processing [4][9] Market Position and Recognition - Veea has been recognized by Gartner as a top 10 Edge AI solution provider, highlighting its innovative capabilities in edge computing [8] - Vapor IO's extensive partner ecosystem positions it to deliver competitive real-time AI inferencing solutions across various sectors, including Smart Cities and Smart Retail [5][11]

Core Insights - Veea Inc. is set to present its Veea Edge Platform™ at various upcoming conferences, highlighting its applications in edge computing and AI-driven solutions [1][2][4] Company Overview - Veea Inc. was established in 2014 and is headquartered in New York City, focusing on advanced networking, wireless, and computing technologies [5] - The company offers a fully integrated cloud- and edge-managed product suite, including Zero Trust Network Access (ZTNA) and a simplified 5G-based Secure Access Service Edge (SASE) [5] - Veea's Edge Platform enables direct connections from various networks to local area networks, utilizing a patented capability called Multiprotocol Private Network Slicing (MPNS) [5] Upcoming Events - Veea will participate in OATSCON25 on February 6-7, 2025, discussing sustainable food-ag system improvements through its Edge Platform [2] - The company will also present at the AHR Expo from February 10-12, 2025, showcasing its cloud-connected platform for the HVACR industry [3] - At the Mobile World Congress (MWC) Barcelona from March 3-6, 2025, Veea will demonstrate how its Edge Platform and Trusted Broadband Access (vTBA) can facilitate 5G/Wi-Fi Fixed Mobile Convergence [4] Industry Recognition - Veea was recognized by Gartner in 2023 as a Leading Smart Edge Platform and was named a Cool Vendor in Edge Computing in 2021 [6] - The company was listed among the top 10 Edge AI solution providers in a report published by Market Reports World in October 2023, alongside major players like IBM and Microsoft [6]

Company Overview - Veea Inc. is a pioneer in edge computing and AI-driven solutions, recently celebrating its 10th anniversary and ringing the Nasdaq Opening Bell [1][2] - The company has developed a portfolio of integrated wireless and wired communication devices and services, including VeeaHub, VeeaWare, and VeeaCloud, aimed at delivering cloud-to-edge solutions [3] Technology and Innovation - Veea's technology focuses on the convergence of Edge Computing, Hyperconverged Networks, and AI, referred to as Edge AI, which enhances decision-making and productivity [2][5] - The company holds over 100 patents across 26 families, showcasing its commitment to innovation and a significant partner ecosystem [4] Market Position and Strategy - Veea is well-positioned to support the 5th Industrial Revolution, characterized by the integration of AI and human intelligence [5] - The company emphasizes the importance of AI inferencing, which processes data at the edge, enabling real-time insights and reducing latency [6][7] Business Model - Veea operates as a Managed Service Provider (MSP), offering AI-as-a-Service (AIaaS) that allows clients to access advanced AI capabilities without heavy infrastructure investments [13][14] - The business model supports scalability, cost efficiency, agility, and expertise, making advanced AI accessible to organizations of all sizes [14][17] Growth Opportunities - The demand for real-time, data-driven decision-making is increasing across various sectors, including retail, healthcare, and smart cities, presenting significant growth opportunities for Veea [15][16] - The company's subscription-based offerings create predictable revenue streams, enhancing financial stability and supporting sustainable growth [16] Competitive Advantage - Veea's Edge AI solutions provide clients with faster, smarter, and more secure operations, helping them maintain a competitive edge in their respective markets [17][18] - The decentralized nature of Edge AI allows Veea to serve clients globally, unlocking new markets and driving innovation [18][19] Commitment to Innovation - Veea is dedicated to investing in transformative technologies and fostering strategic partnerships to remain at the forefront of the technological revolution [20][21] - The company aims to deliver growth and value to shareholders through its innovative solutions and unique business model [20][21]

Core Points - Veea, Inc. will ring the Opening Bell at Nasdaq on February 5, 2025, marking its public listing [1] - The event highlights the company's commitment to innovative solutions in edge computing and AI [2] - Veea was founded in 2014 and specializes in scalable wireless communication solutions for edge environments [2][3] Company Overview - Veea, Inc. is headquartered in New York City and has a history of innovations in networking, wireless, and computing technologies [3] - The company offers fully integrated cloud and edge-managed products, including Zero Trust Network Access (ZTNA) and a 5G-based Secure Access Service Edge (SASE) [3] - Veea's unique capability, Multiprotocol Private Network Slicing (MPNS), allows ISPs to provide subscription-based services [3] Industry Recognition - Veea was recognized by Gartner in 2023 as a Leading Smart Edge Platform and a Cool Vendor in Edge Computing in 2021 [4] - The company was listed among the top 10 Edge AI solution providers in a report published in October 2023, alongside major players like IBM and Amazon Web Services [4]

Financial Performance - Veea incurred net losses of approximately $33.3 million and $46.4 million for the three and nine months ended September 30, 2024, respectively[140]. - Veea generated net revenue of approximately $51,000 and $108,000 for the three and nine months ended September 30, 2024, respectively, compared to approximately $9,000 and $40,000 for the same periods in 2023[140]. - The Company generated revenue of $50,683 for the three months ended September 30, 2024, a decrease of 99% compared to $9,009,254 for the same period in 2023[155]. - For the nine months ended September 30, 2024, revenue was $108,264, down 99% from $9,040,359 in 2023, primarily due to $9 million recognized from the license of AdEdge™ in 2023[155]. - The company incurred net losses of $46.6 million for the nine months ended September 30, 2024, compared to $9.4 million for the same period in 2023[168]. - As of September 30, 2024, the company had an accumulated deficit of $216.9 million, up from $170.3 million as of December 31, 2023[168]. - Adjusted EBITDA for the three months ended September 30, 2024, was $(2,331,722), compared to $3,505,189 for the same period in 2023[170]. Business Developments - The Business Combination with Plum Acquisition Corp. I was completed on September 13, 2024, resulting in Veea Inc. becoming a wholly owned subsidiary of Plum[141]. - The Business Combination was accounted for as a "reverse recapitalization," with no goodwill or other intangible assets recorded[143]. - The Company raised $1.45 million from the issuance of convertible promissory notes as part of a private placement offering, with a commitment for an additional $13.55 million[144]. - The company plans to fund operations through a combination of private and public equity and debt offerings, with a remaining convertible note commitment of approximately $13.6 million[170]. Expenses and Costs - Total operating expenses for the three months ended September 30, 2024, were $57,533,067, a 922% increase compared to $5,631,507 for the same period in 2023[153]. - Cost of goods sold decreased by approximately $9,310, or 38%, for the three months ended September 30, 2024, compared to the same period in 2023[156]. - Cost of goods sold increased by $10,524, or 22%, for the nine months ended September 30, 2024, compared to the same period in 2023[156]. - Product development expenses increased by $170,997, or 92%, for the three months ended September 30, 2024, compared to the same period in 2023[157]. - Product development expenses increased by $476,327, or 70%, for the nine months ended September 30, 2024, compared to the same period in 2023[157]. - Sales and marketing expenses decreased by $57,006, or 41%, for the three months ended September 30, 2024, compared to the same period in 2023[158]. - Sales and marketing expenses increased by $160,211, or 54%, for the nine months ended September 30, 2024, compared to the same period in 2023[158]. - General and administrative expenses decreased by $3.2 million, or 62%, for the three months ended September 30, 2024, compared to the same period in 2023[159]. - Depreciation and amortization decreased by $7,588, or 10%, for the three months ended September 30, 2024, and by $529,195, or 72%, for the nine months ended September 30, 2024, compared to the same periods in 2023[162]. - Interest expense decreased by $1.3 million, or 75%, for the three months ended September 30, 2024, and by $3.1 million, or 69%, for the nine months ended September 30, 2024, compared to the same periods in 2023[167]. Recognition and Awards - Veea was recognized by Gartner in 2023 as a Leading Smart Edge Platform and named a Cool Vendor in Edge Computing in 2021[140]. - The Company was listed among the top 10 Edge AI solution providers in a report published by Market Reports World in October 2023[140]. - The Veea Edge Platform provides highly secure connectivity and computing solutions for digital transformation in underserved communities[140]. Financial Instruments - The September 2024 Notes have a maturity date of 18 months after the Financing Closing and accrue interest at a rate equal to the Secured Overnight Financing Rate plus 2% per annum[144]. - The September 2024 Notes are convertible into shares of Common Stock at a conversion price of $7.50 per share[144]. - The fair value of the earn-out share liability was $24.8 million for the three and nine months ended September 30, 2024, determined using a Monte Carlo simulation[165]. - The company recorded a contingent earn-out share liability of $53.6 million for the three and nine months ended September 30, 2024, as part of transaction costs[161]. Tax Credits - The company received an R&D tax credit of $1.2 million from its UK subsidiary[164].