What changed in this filing

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Item 1. Business

2026-04-15 compared with 2025-04-15 · 813 added, 624 removed, 83 unchanged (95% of the section changed)

We were originally incorporated

under the name “Plum Acquisition Corp.

I.” as a blank check company incorporated as a Cayman Islands exempted company and

formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination

with one or more businesses.

As discussed in this Annual Report, we completed the Business Combination on September 13, 2024 and changed

our name to “Veea Inc.”

We are dedicated to simplifying

the journey towards creating a world in which virtually everyone and everything is intelligently connected , while bringing applications

and AI to the edge of the network.

Most service providers, equipment suppliers, system integrators and even hyperscalers have adopted

or advocated for similar solutions to various degrees either independently or in collaboration with the Company.

However, to our knowledge,

we are the first to market with patented technologies that a) bring virtualized data center capabilities to the far edge of the network,

commonly referred to as the Device Edge, where all wired and wireless devices connect to the network (the “Edge”), b) spawns

hyperconvergence of computing, multiaccess communications and storage, (“Edge Computing”) c) provides for Cloud-managed applications

at the Edge (“Hybrid Edge-Cloud Computing”), d) enables machine learning with AI training, inferencing, and Agentic AI at

the Edge (“Edge AI”) including AI-driven cybersecurity for heterogenous networks.

Such networks have given rise through

any combination of our developed devices and third-party devices, with CPUs, GPUs, TPUs, DPUs and/or NPUs, that run on the Veea Edge Platform’s

software stack (“VeeaWare”).

Veea has developed several generations

of highly integrated all-in-one devices that incorporate a Linux server, with a virtualized software environment, supporting our patented

secured docker containers, together with a Wi-Fi Access Point (AP) with a mesh router, a firewall, an IoT gateway, NVMe data storage and

4G/5G modules referred to as the “VeeaHub” product.

With an extensive patent portfolio of 125 granted patents and 25 pending

patent applications that cover 26 patent families, our end-to-end Hybrid Edge-Cloud Computing platform represents a new product category

that has the potential for wide scale customer adoption in large segments of consumer and enterprise markets.

Veea Edge Platform’s products,

applications, and services with a distributed computing architecture, offered as a Platform-as-a-Service (“ ePaaS ”)

were originally incorporated under the name “Plum Acquisition Corp.

I.” as a blank check company incorporated as a Cayman

Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization,

or similar business combination with one or more businesses.

As discussed in this Annual Report, we completed the Business Combination

on September 13, 2024, and changed our name to “Veea Inc.”

are dedicated to simplifying the journey towards creating a world in which virtually everyone and everything is intelligently connected,

while bringing applications and AI to the edge of the network.

Most service providers, equipment suppliers, system integrators and even

hyperscalers have adopted or advocated for similar solutions to various degrees either independently or in collaboration with the Company.

However, to our knowledge, we are one of the first to market with patented technologies that a) bring virtualized data center capabilities

to the far edge of the network, commonly referred to as the Device Edge, where all wired and wireless devices connect to the network

(the “ Edge ”), b) spawns hyperconvergence of computing, multiaccess communications and storage, (“ Edge Computing ”)

c) provides for Cloud-managed applications at the Edge (“ Hybrid Edge-Cloud Computing ”), and d) enables machine learning

with AI training, inferencing, and Agentic AI at the Edge (“ Edge AI ”) including AI-driven cybersecurity for heterogenous

Such networks have given rise through any combination of our developed devices and third-party devices, with CPUs, GPUs, TPUs,

DPUs and/or NPUs, that run on the VeeaONE™ platform’s software stack VeeaWare™ (“ VeeaWare ”).

end-to-end edge-cloud platform is referred to as VeeaONE™ (“ VeeaONE ”) platform.

has developed several generations of highly integrated all-in-one devices that incorporate a Linux server, with a virtualized software

environment, supporting our patented Secured Docker ® containers, together with a Wi-Fi Access Point (AP) with a mesh router,

a firewall, an IoT gateway, NVMe data storage and 4G/5G modules referred to as the “VeeaHub” product.

With an extensive patent

portfolio of approximately 123 granted patents and 32 pending patent applications that cover 26 patent families, our end-to-end Hybrid

Edge-Cloud Computing platform represents a new product category that has the potential for wide scale customer adoption in large segments

of consumer and enterprise markets.

products, applications, and services with a distributed computing architecture, offered as a Platform-as-a-Service (“ PaaS ”)

capability, empowering companies to capitalize on the transformative potential of Edge AI, where most of the data from smartphones, tablets,

laptops, cameras, sensors, and other devices is generated, with data privacy and sovereignty, reliability, low latency for real-time decisions,

bandwidth efficiency, scalability, and reduced costs compared to alternatives.

VeeaHub products, about the size

of a typical Wi-Fi Access Point (AP), are offered in variety of form factors with different capabilities for indoor and outdoor coverage

and are both locally- and cloud-managed.

Veea Edge Platform architecture and business model, VeeaHub Ò

and third-party devices on Veea Edge Platform with Hybrid Edge-Cloud Computing and AI-enabled applications and services, to a certain

degree is similar to Android OS platform architecture and business model for Android devices.

The VeeaEdge Platform Ô

laptops, cameras, sensors, and other devices is generated, with data privacy and sovereignty, reliability, low latency for real-time

decisions, bandwidth efficiency for lower data transport costs, scalability, cybersecurity, reduced costs compared to alternatives, as

well as “always-on” availability for mission critical applications, and contextual awareness for people, devices and things

connected to the Internet.

VeeaONE platform

offers an alternative to cloud computing by enabling the formation of highly secure, but easily accessible, private clouds and networks

across one or multiple user(s) or enterprise location(s) across the globe.

The benefits include optimal latency, lower data transport

costs, data privacy, security and ownership, Edge AI, as well as “always-on” availability for mission critical applications,

and contextual awareness for people, devices and things connected to the Internet.

Our products and services have

been deployed across multiple countries and industries;

however, we are focused on high-growth market segments such as fixed-line or 5G-based

fixed wireless broadband access, and subscription-based managed Wi-Fi for unserved / underserved communities.

In both cases, broadband

or Internet connectivity services are offered with a variety of Edge applications and value-added services, including advanced AI-driven

cybersecurity, through Mobile Network Operators (“MNOs”), Multiple System Operators (MSOs), Internet Service Providers (“ISPs”)

and other types of Managed Service Providers (“MSPs”).

The industrial applications include climate smart buildings, smart

farming with precision agriculture, smart warehouses and smart retail as cloud-managed converged private networks.

Gartner recognized the innovativeness

and capabilities of the platform by naming Private Veea a Leading Smart Edge Platform in 2023 and Cool Vendor in Edge Computing in 2021.

Market Reports World in its research report published in October 2023 named Private Veea as one of the top 10 Edge AI solution providers

alongside of IBM, Microsoft, Amazon Web Services (“ AWS ”) and others.

Private Veea was founded in 2014

by Allen Salmasi, our Chief Executive Officer and a pioneering wireless technology leader.

Salmasi helped to drive industry transformation

through his contributions to the development of CDMA/TDMA-based OmniTRACS, the largest mobile satellite messaging and position reporting

system with integrated IoT solutions during the 1980s and 1990s;

CDMA-based 2G/3G technologies and products at Qualcomm in 1990s;

4G technologies and products at NextWave during the 2000s, and hyper-converged edge computing and communications during the 2010s;

beyond with Veea.

Salmasi has assembled a talented and experienced management and engineering team that includes former senior executives

of leading technology, telecom, SaaS, and wireless companies that possess a deep understanding of wireless technologies, networking edge

and cloud computing.

The Company has five wholly owned subsidiaries, VeeaSystems Inc., formerly

known as Veea Inc.

a Delaware corporation, Veea Solutions Inc., a Delaware corporation, VeeaSystems Development Inc., formerly known as

Veea Systems Inc., a Delaware corporation, Veea Systems Ltd., a company organized under the laws of England and Wales and VeeaSystems

SAS, a French simplified joint stock company;

with VeeaHub products across one or multiple user(s) or enterprise location(s) across the globe.

VeeaHub products, about the size of

a typical Wi-Fi Access Point (“ AP ”), are offered in multiple form factors having different capabilities for indoor

and outdoor coverage and are both locally- and cloud-managed.

VeeaONE platform provides for large scale management of VeeaHub products

and third-party devices and AI-enabled applications and services with Hybrid Edge-Cloud Computing.

have developed products and solutions for wireline and/or 5G-based fixed wireless broadband access, subscription-based managed Wi-Fi

for unserved and underserved communities, converged private networks, Smart Buildings, Smart Construction, Smart Warehouses and Smart

Retail – that we believe offer high potential for growth and can benefit from our products and services offerings in a way that

transforms their businesses and business models in a secure, cost-effective, and meaningful manner.

To date, our products and services

have been successfully deployed across multiple countries and industries.

We remain focused on high-growth market segments such as fixed-line

or 5G-based fixed wireless broadband access, and subscription-based managed Wi-Fi for unserved and underserved communities.

In both cases,

broadband or Internet connectivity services include an offering of Edge applications and value-added services, including advanced AI-driven

cybersecurity, through mobile network operators (“ MNOs”) , multiple system operators (“ MSOs ”), Internet

Service Providers (“ ISPs ”), Managed Service Providers (“ MSPs ”), system integrators and major distributors.

The industrial applications include climate smart buildings, smart farming with precision agriculture, smart warehouses and smart retail

as cloud-managed converged private networks.

2014, we have been actively involved in defining the standards for mobile edge computing (“ MEC ”) through our contribution

to the publication of the first white paper by European Telecommunications Standards Institute (“ ETSI ”) that

outlined the concept of MEC.

In December 2014, ETSI formally launched the Mobile Edge Computing Industry Specification Group (“ MEC

ISG ”) based in large part on the white paper and on our contributions.

We believe that since then we have laid a strong foundation

to assume a major role in making Edge AI a reality.

innovativeness and capabilities of our platform was recognized by Gartner® in 2023 as a Leading Smart Edge Platform and named a Gartner®

Cool Vendor™ in Edge Computing in 2021.

We were also named in a recent Market Reports World in its research report published in

October 2023 as one of the top 10 Edge AI solution providers alongside of IBM, Microsoft and Amazon Web Services (“ AWS ”).

Veea was founded in 2014 by Allen Salmasi, our Chief Executive Officer and a pioneering wireless technology leader.

Salmasi helped

to drive industry transformation through his contributions to the development of CDMA/TDMA-based OmniTRACS, the largest mobile satellite

messaging and position reporting system with integrated IoT solutions during the 1980s and 1990s;

CDMA-based 2G/3G technologies and products

at Qualcomm in 1990s;

OFDMA-based 4G technologies and products at NextWave during the 2000s, and hyper-converged edge computing and communications

during the 2010s;

and beyond with Veea.

Salmasi has assembled a talented and experienced management and engineering team that includes

former senior executives of leading technology, telecom, SaaS, and wireless companies that possess a deep understanding of wireless technologies,

networking edge and cloud computing.

Company has six wholly owned subsidiaries, VeeaSystems Inc., formerly known as Veea Inc.

a Delaware corporation, Veea Solutions Inc.,

a Delaware corporation, VeeaSystems Development Inc., formerly known as Veea Systems Inc., a Delaware corporation, Veea Systems Ltd.,

a company organized under the laws of England and Wales, VeeaSystems SAS, a French simplified joint stock company and VeeaSystems CK

Inc., a Delaware corporation;

and one majority owned subsidiary, VeeaSystems Mexico, S.

de C.V., a limited capital

company organized under the laws of Mexico (“VeeaSystems MX”).

VeeaSystems MX is 95% owned by VeeaSystems Inc., and due to

local law requirements, the remaining 5% is held by the Company’s CEO.

The Company is headquartered in New York City with offices

in the United States, Mexico and Europe.

Our Vision and Strategy

At the founding of Veea, we imagined

a world where powerful, secure, intelligent and fully networked computing simply works.

We pictured a reality where transformative ideas

come to life quickly and effortlessly, without barriers created by technical complexity or infrastructure constraints.

We envisioned

a future in which any business, no matter its size or technical expertise, can seamlessly deploy sophisticated software, real-time analytics,

and cutting-edge artificial intelligence directly within their own walls, at their own locations.

At the core of our mission is simplicity.

We empower our customers by delivering intuitive software and unified hardware solutions that enable local computing, intelligent

networking, and advanced AI applications to work together seamlessly.

By making these solutions easy to deploy, orchestrate, and scale,

we remove technological barriers, freeing innovators to innovate.

Our tagline, “Intelligently Connected,” reflects this

We’re not merely connecting devices or networks;

we're connecting businesses to outcomes, ideas to reality, and complexity

to simplicity.

Our platform creates intelligent connectivity, transforming intricate technological landscapes into streamlined environments

that anyone can leverage.

We are focused on markets - Fixed-line

or 5G-based Fixed Wireless Broadband Access, Unserved / Underserved Communities, Climate Smart Buildings, Converged Private Networks,

and Smart Retail – that we believe offer high potential for growth and can benefit from our products and services offerings in a

way that transforms their businesses and business models in a secure, cost-effective, and meaningful manner.

The following are examples that

highlight our impact:

Fixed-line or 5G-based Fixed Wireless Broadband

this cloud-managed solution is offered with backhaul connections to public networks through our highly innovative and highly

compact STAX and STAX-5G VeeaHub products, with a variety of edge applications and value-added services, including advanced AI-driven

cybersecurity, CCTVs for physical security, smart locks, and a variety of IoT applications, through Mobile Network Operators (“MNOs”),

Multiple System Operators (MSOs), Internet Service Providers (“ISPs”) and other types of Managed Service Providers (“MSPs”).

● Unserved/Underserved Communities:

we are providing an

affordable, accessible, and comprehensive solution to address the “digital divide which exists due to limited on no access to the

Internet primarily through major satellite service providers.

Climate Smart Buildings:

Veea is the first company to develop containerized Niagara, a software platform that integrates building systems into a single control system, that is integrated with the Niagara Framework ® (developed by Tridium, Inc., a wholly owned subsidiary of Honeywell International, Inc.), the leading platform for connecting to and managing building systems.

Converged Private Networks and Smart Retail:

Veea’s solutions allow for the convergence of Wi-Fi and private 4G/5G networks to take advantage of Wi-Fi’s ability to

handle large amounts of data traffic, at lower network expense in areas densely populated by people and machines, with 5G’s reliability

and low latency over large distances.

Veea’s Edge AI Platform seamlessly combines

networking, computing, artificial intelligence, and orchestration into a unified, intuitive ecosystem (“Total Fabric”).

platform simplifies the complexities of deploying, managing, and scaling intelligent edge solutions, enabling organizations of all sizes

to harness powerful local AI effortlessly.

It Provides real-time decision-making, scalability, and enhanced performance for complex Edge

AI use cases.

With distributed computing and mesh networking, the platform uniquely offers federated Learning with blockchain , which

is an efficient solution for building a cross-enterprise, cross-data, and cross-domain ecosphere for Edge AI with data privacy and big

data analytics.

growth strategy centers on fostering strategic partnerships, expanding distribution channels, and securing partnerships with Network

Operators and Managed Service Providers to reduce churn in their clients relationships.

We view ourselves not just as a vendor, but as

a comprehensive provider of services and solutions that address a wide range of our customers’ IT needs.

Target Markets

Fixed-line or 5G-based Fixed Wireless Broadband Access

STAX-5G is currently the only 5G CPE in the market that supports Multiaccess

Edge Computing (MEC) functionality with Wi-Fi 6 mesh router, IoT gateway, and networking/application mesh along with optional modules

supporting Non-Volatile Memory Express (NVMe) storage and Power-over-Ethernet (POE) with10 GbE interface.

With a high level of integration

through a single PCBA implementation, it substantially reduces the production time and costs.

Novel stackable mechanical design offers

the opportunity for a wide range of accessories (e.g., smart speakers).

An Ericsson forecast provides that the total global Fixed Wireless

Access (FWA) subscriptions will grow at 19 percent year-on-year during the 2022 to 2028 period to reach more than 300 million devices

Currently, Veea has mostly completed the homologation process with one

of the largest global MNOs and is engaged in POCs with several other major MNOs and fixed-line telcos, with major roll-outs anticipated

starting in Q2/Q3 2025.

Unserved/Underserved

noted in the GSMA Mobile Economy 2023 report, one-third of the world’s population lacks Internet access due to limited or no availability

to cost-effective network infrastructure and services.

The Wi-Fi Alliance estimated in their 2021 Global Economic Value of Wi-Fi report,

that bridging this “digital divide” would result in global economic value growth on the order of $4.9 trillion by 2025.

are actively involved in planning and executing deployments in Southeast Asia, West Africa and the Americas, using our technologies that

uniquely address this global opportunity.

vTBA Ô (Virtual

Trusted Broadband Access) provides an affordable, accessible, and comprehensive solution to address for this “digital divide.”

vTBA enables the virtualization of Wi-Fi network capabilities across access points, consumers of Wi-Fi services, and connected devices.

These network capabilities are “sliced,” meaning that traffic throughput, latency, and priority of service can be tailored

to the requirements of the applications for, or the Service Level Agreements (“ SLAs ”) with the enterprise and

consumer markets.

This is achieved by using cloud-based policy definition and locally based policy enforcement, which minimizes the effort

required to onboard customers and automate network management functions.

Unlike mobile network solutions requiring cellular devices,

vTBA is a Wi-Fi first solution that connects the widest range of consumer and IoT endpoints because Wi-Fi is the most prevalent wireless

interface and vTBA serves past and current standards of Wi-Fi devices.

vTBA controller provides for a Wi-Fi control channel that permits

offering of vTBA-based services on a pre-paid or post-paid basis with roaming within the coverage of a private network of VeeaHub units

located anywhere in the world.

another use case, by establishing a canopy of connectivity globally across remote communities while leveraging the Veea Edge Platform

edge computing and its integration with sensors, we facilitate climate-smart agriculture solutions for smallholder farmers and gather

data from remote ecosystems.

This information is used to increase productivity in farms, reduce resource utilization, and increase transparency

for carbon capture business models.

We drive increased economic activity for local economies.

contribute to approximately 37% of global carbon emissions and 34% of global energy consumption.

Improvements to building utility management

systems are critical to reducing global emissions and energy consumption.

Studies furnished by the US Department of Energy have shown

that as much as 30% of building energy consumption can be eliminated through more accurate sensing and more effective use of controls.

Smart climate management requires a computational platform that meshes wired and wireless Internet connections from sensors to a central

processing platform.

is the first company to develop containerized Niagara that is integrated with the Niagara Framework ® (developed by Tridium,

Inc., a wholly owned subsidiary of Honeywell International, Inc.), the leading platform for connecting to and managing building systems.

Veea Edge can deliver actionable insight to building managers and homeowners regarding data generated by HVAC, lighting, access control,

fire safety, plumbing and surveillance systems.

Building managers and homeowners can use this data to reduce electricity usage and carbon

emissions through continuous monitoring and optimization, building management automation, and analysis of usage patterns and environmental

Veea enhances the traditional Niagara Framework by capturing and pre-processing operational data locally, before augmenting

it with cloud processing, along with interconnecting wired and wireless sensors.

Given the dynamic nature of building configurations,

designs, and materials, flexibility in deploying wireless sensors, connection to the Internet, and local data processing is required.

Converged Private Wireless Networks and Edge AI

and private 4G/5G networks are converging to provide wider coverage, faster speeds, and connectivity across a broad range of devices

By integrating the two technologies, devices can connect seamlessly to the best available network coverage from Veea Edge

Platform and private 4G/5G network.

A converged network takes advantage of Wi-Fi’s ability to handle large amounts of data traffic,

at lower network expense in areas densely populated by people and machines, with 5G’s reliability and low latency over large distances.

hyper-converged edge platform uniquely complements this new technology through its vTBA 5G interworking functionality allowing 5G and

non-5G endpoints to be managed from a converged controller.

This is unique to the industry and overcomes the need to replace many fully

functioning Wi-Fi or IoT endpoints, especially for industrial and enterprise use cases, and allows legacy wired and wireless endpoints

to remain connected via the Veea Edge Platform.

Federated learning allows large scale datasets to be used for training

models while keeping the data private in each VeeaHub node, within a cluster of VeeaHub products at the edge or on a wide area private

network with VeeaHub units in vTBA-based Trust Domains.

For many use cases of Edge AI delivered through Veea Edge Platform, such as Smart

Retail, Smart Building and Energy Management, Smart Farming, and others, current models of VeeaHub product supporting up to 8 GB of RAM

and up to 2 TB of memory, with or without GPUs or DPUs included in the mesh network, provide sufficient resources for training of submodels.

Moreover, Veea Nexus is the central agentic AI orchestration engine that transforms real-time analytics and insights into automated actions.

By providing a unified, centralized automation engine, Nexus eliminates the need for each individual app to build its own automation logic.

Instead, any app can integrate seamlessly with Nexus (i.e., becoming "Nexus-enabled"), allowing rapid deployment of sophisticated

agentic workflows.

AdEdge Ô solution

enabled by vTBA is capitalizing on the incorporation of private 5G networking infrastructure in retail environments .

This Veea-authored

application contains prominent features of a modern advertising management platform including integration into real-time advertising

for smart shipping carts as well as selling the ad content against an inventory of Digital out of Home (“ DOOH ”)

displays in retail locations, transportation centers, smart city deployments, stadiums, restaurants, etc.

This solution leverages the

hyper-converged features of the VeeaHub by deploying an advertising media player and dynamic campaign manager that triggers custom ads

based on sensory or visual inputs in a location.

business strategy is focused on leveraging three key paths to market:

Technology Partnerships - Complementary technologies that are amplified with Veea technology capabilities.

Distribution Channels -

Aligned with our core edge-focused technology franchise, large-scale system integrators working to digitally transform industries,

distributors and resellers of Niagara framework.

Network Operators and Managed

Service Providers - Providing for dedicated private networks end-to-end or monetization of their network assets, with the introduction

of edge computing, Edge AI and their own customized applications, developed through the Veea developer portal to offer highly differentiated

services that locks in the current customer base and reduces churn.

customer-centric approach yields mutual benefit.

Our customer activities generally are the result of three phases:

Core buildout - Deploying

the core product platform with success-based capital with network operators or government entities that can deliver highly differentiated

customer value, improvements in productivity, and economic outlook with new digital services facilitated by high quality, cost-competitive

managed broadband services with value-added services.

Geographic expansion -

Expand the geographic footprint of the core buildout location to more of the unserved and underserved communities in the same geographic

areas resulting in scale economics for core network components and materials that yield margin expansion for both Veea and Veea’s

channel partners.

Subscriber density - End-customers

of the base connectivity services fuel the introduction of a diverse set of adjacent digital services with broadband connections,

such as Edge AI, tele-health, energy management, public safety solutions, precision agriculture, and content distribution to reinforce

the customer value proposition for the base connectivity services, which are often provided in a low to no competitive landscape.

With the network micro-slicing feature of vTBA, there are major opportunities to bring such services to multi-family residential

housing or multi-dwelling units, commercial buildings, campuses, rental or rural communities, and high density user communities with

the type of service directly delivered to a plethora of endpoints, such as user devices, cameras, smart locks, sensors, and various

electromechanical systems, monitored and controlled by Niagara framework, individually and offered on a subscription basis.

the significant increases in the data transport costs to the cloud as well as data ownership and privacy concerns around cloud-based

applications, we believe that there is pent-up demand for low-latency and cost-effective private and public network solutions and applications

at the edge that increase productivity and generate value for enterprises, people, places, and things connecting to the Internet, which

will in turn will help network operators offering broadband services capture a greater enterprise value for connecting their customers

to the internet.

de C.V., a limited capital company organized

under the laws of Mexico (“ VeeaSystems MX ”).

VeeaSystems MX is 95% owned by VeeaSystems Inc., and due to local law

requirements, the remaining 5% is held by the Company’s CEO.

The Company is headquartered in New York City with offices in the

United States, Mexico and Europe.

are not merely connecting devices or networks;

we’re connecting businesses to outcomes, converting ideas to reality, and turning

complexity into simplicity.

Our platform creates intelligent connectivity, transforming intricate technological landscapes into streamlined

environments that anyone can leverage as a new and more capable type of product that is being introduced into the customer’s environment

with one or two mission critical applications downloaded and instantiated initially with more to come.

the inception of our Company in 2014, we have developed a comprehensive end-to-end Hybrid Edge-Cloud Computing (“ HEC ”)

platform capable of delivering turnkey applications, broad range of computing and communications services and Edge AI to the enterprises

and service providers.

Our current focus is on the simpler AI-driven edge solutions (e.g., SecureConnect™ and AirLynx™ as

further described below), for markets with significant pent-up demand and defined business models that can scale rapidly and where we

can carefully manage the technical, operational and business execution risks.

This allows us to lay the foundation for becoming a category-defining

leader in hyperconverged network solutions, as the key enabler of Edge AI, on a journey towards creating a world in which virtually everyone

and everything is intelligently connected at the network edge.

Over the last ten years at Veea, we have persevered to make Hyperconverged

Infrastructure (“ HCI ”) with edge computing and Edge AI a reality at the edge.

HCI is a critical capability that merges

compute, storage, networking, and virtualization into a single, cohesive platform, perfectly suited to the unique demands of edge AI

founder and many other members of our team have decades of experience in creating market defining technologies and networks;

as one of the largest and one of the first all IP-based wireline and wireless public safety networks in the world, the NYCWiN network

designed, developed and deployed in New York City beginning in 2009 under contract with Northrop Grumman.

Leveraging this experience,

we imagined a world based on federation of edge networks, similar to this public safety network, deployed by service providers and enterprises

across cities that is focused on cybersecure, intelligent, protects user data privacy, and fully networked with distributed computing

that, in our belief, just simply works as it expands without significant integration, on-going maintenance or IT/OT expertise.

the end-users’ perspective, the primary difference between pure cloud computing and VeeaONE platform is in the fact that, for those

capabilities that are typically cloud-only solutions but the end-users require them to be at the edge, for reasons of data privacy, latency,

application of AI, etc., VeeaONE transparently brings those cloud capabilities to as far as the Device Edge with heterogenous computing

and communications networks supported by VeeaHub products for device and network management together with third-party devices that are

capable of running VeeaONE platform software.

The primary benefits delivered by VeeaONE platform for different use cases at the edge

Optimal latency for real-time

decisions at the edge vs.

round-trip cloud delay,

Lower data transport costs,

Data privacy and sovereignty,

Reliability including “always-on”

availability for mission critical applications and fault tolerance if required,

Scalability, especially,

with heterogenous networks supported by Veea’s full-stack edge-to-cloud software platform,

Contextual awareness of

connected device at the edge,

Improves resilience in

intermittent connectivity scenarios, addressing connectivity and networking challenges with data traffic micro-segmentation and network

profiles at the edge,

Supports compliance with

regional data sovereignty regulations, and

Significant cost savings

compared to alternatives.

AI, the ability to run intelligent algorithms locally, literally on machines or devices, or in short proximity of where data is generated,

giving rise to how we live, work, and move, while helping to create new industries, redefining mobility, revolutionizing healthcare,

transforming energy systems, and enabling more human-centered experiences.

By moving AI from centralized clouds to the very edge of networks,

Edge AI enables a new generation of autonomous machines and experiences that were once confined to science fiction.

We believe that the

societal impact will be profound.

Edge AI market size in 2024 was on the order of US$20.8 billion, and is expected to reach US$24.9 billion

in 2025, and US$66.5 billion by 2030, with a 21.7% CAGR (2025–2030).

It is important to

differentiate between an investment into an Edge AI-enabling infrastructure company, such as Veea with VeeaONE platform providing for Physical AI and inferencing, vs.

foundational AI model development company or other model developers (e.g., OpenAI or Edge Impulse), developing Large Language Models

(“ LLMs ”), Small Language Models (“ SLMs ”), Agentic AI, federated machine learning, etc.

cases, certain versions of these models are freely made available on an introductory basis or longer-term in order to rapidly penetrate into a vast

potential market.

However, as headlined on a daily basis, AI models evolve at breakneck speed.

contrast, once HCI is deployed, spanning compute, storage, LAN/WAN networking, including 5G, and virtualization, it forms a foundational,

integrated backbone for IT/OT at the edge for many enterprises and even consumer use cases beyond Edge AI.

It is the equivalent of the

cloud computing at the edge, regardless of how and what applications are served up by the customers of AWS or Microsoft Azure that may

come and go, the Cloud remains and evolves slowly.

in the case of VeeaONE-based solutions, solutions are deployed to serve a primary AI-driven use case such as 5G-based broadband connectivity

with AI-driven cybersecurity, an AI-powered building management system, AI-enabled precision agriculture, or a Smart City deployment.

In general, VeeaONE platform is designed for delivering:

Long lifecycle with

modular scaling, upgrades and low replacement frequency on a heterogenous network.

Simplified operations ,

centralized management, and built-in redundancy ensuring high availability.

Cost efficiency ,

resource consolidation, and resilience that support even heavy AI workloads with a range of AI-accelerated third-party devices that

are specifically designed to serve the use case.

Adaptability, large

number of open source models available to choose from for the edge use cases such as frameworks that support edge-optimized inferencing,

including TensorFlow Lite, ONNX Runtime, PyTorch Mobile, NVIDIA TensorRT, Intel OpenVINO, or Edge-focused Models such as Latent AI,

Neural Magic or Edge Impulse.

Infrastructure

Pace of Innovation

fleeting leadership,

new models weekly

Slow to change;

years post-installation

Short-term relevance;

frequent model updates

Long-term deployment;

Competitive Dynamics

Hypercompetitive;

based on compute, data

Infrastructure is standard;

competitive edge in execution

Operational Role

Enables new capabilities but constantly shifts

Provides reliable core platform

supporting all workloads

Business Principals

are a fast-growing operating business, with an end-to-end next generation AI-enabled hybrid edge-cloud computing and communications platform

that delivers groundbreaking applications and services at the “ Device Edge ”, where people, devices and things (e.g.,

sensors, appliances, machines, robots, drones, etc.) connect to the public and private networks, augmenting or replacing the end-users’

cloud services.

We empower our customers by delivering intuitive software and unified hardware solutions that enable local computing,

intelligent networking, and advanced AI applications to work together seamlessly.

By making these solutions easy to deploy, orchestrate,

and scale, we aim to remove technological barriers, freeing innovators to innovate.

Our tagline, “Intelligently Connected,”

reflects this commitment.

platform provides for large scale management of VeeaHub products and third-party devices and AI-enabled applications and services

with Hybrid Edge-Cloud Computing similar to how Android OS platform does it for Android devices.

Our platform flexibly supports a highly

scalable business model for B2B and B2B2C delivery of products and services to a diverse range of customers.

Our products and services

have been deployed extensively for various use cases in several countries.

summary, for reliable delivery of the applications and AI at the edge, the following are some of the key considerations:

Cybersecure broadband delivery

with failover, over fiber, 5G, or certain satellite backhaul, enable higher data throughput, latency reduction and resiliency, which

are key for most enterprise applications, especially, if AI is applied to use cases that support real-time operations at the edge.

IT and OT convergence is

required for many enterprise use cases and fosters significant efficiencies but increases vulnerability, amplifying cybersecurity

AI provides the brains

behind real-time sensing, improved operational efficiencies, predictive maintenance, and threat detection, utilizing the data collected

and processed at the Device Edge.

The synergy across broadband,

IT/OT, AI, and cybersecurity is driving the emergence of intelligent, secure, and resilient digital infrastructure represented by

VeeaONE platform.

business growth strategy is focused on leveraging three key paths to market:

Service Providers - Providing

for broadband access, cybersecurity, or dedicated private networks with the offerings that may include any combination of 5G fixed

wireless access, subscription-based managed Wi-Fi, variations of edge computing and standardized MEC, solution-specific Edge AI (e.g.,

loss protection, inventory management, common area surveillance, etc., with computer vision models) and, in some cases, their own

customized applications, developed through the Veea developer portal to offer highly differentiated services that locks in the current

customer base and reduces churn.

System Integrators –

Aligned with our edge-focused products and services, system integrators working on digital transformations incorporate VeeaONE platform

capabilities with solutions customized for enterprise customers.

Major Distributors –

Major distributors and resellers of Honeywell Niagara framework or those specializing in telecommunications and security technology.

business model is partially based on global demands from the Americas, EMEA and APAC regions for a product platform and software services

for the generation of new revenue streams, with lower recurring costs, compared to traditional network infrastructure that lacks automation

of service delivery and entails substantial ongoing operational support and network maintenance costs.

We believe we are uniquely positioned

in the marketplace, leveraging our strengths with our business model, including the following:

of service delivery and entails substantial ongoing operational support and network maintenance costs (e.g., traditional cybersecurity

solutions for small businesses).

We believe we are uniquely positioned in the marketplace, leveraging our strengths with our business

model, including the following:

Comprehensive, full suite

of hardware and software services with a strategic focus on high-growth segments in emerging markets and underserved areas in mature

markets for broadband services and edge applications including climate smart energy and sustainability solutions.

markets for broadband services and edge applications including cybersecurity, smart buildings, smart energy and sustainability solutions.

Aligned customers with

value propositions where Veea and our customers benefit in the creation of new revenue streams.

value propositions where Veea and our customers benefit in the creation of new revenue streams with recurring revenue.

Innovation-driven, a technology-centric

2 unchanged sentences

for network service providers and enterprises to harness the power of software for improved customer experiences and reduced manual

Climate-smart platform

technology advancements that bring greater productivity to emerging and mature markets, with measured improvements to the environment.

Veea Edge Platform Ô

is comprised of several elements needed to deploy cloud-to-edge solutions driving digital transformation for communities and

industries worldwide.

This comprehensive platform is comprised of three main components:

VeeaHub Ò devices - a highly integrated convergent secure

computing hardware platform, with a Linux server supporting virtualized software environment and patented “Secured Docker”

containers, storage and connectivity for Wi-Fi, IoT, and 4G/5G devices.

VeeaWare Ô - an edge operating system and companion tools, that manage the convergence of computing and connectivity across a mesh of VeeaHub products.

VeeaCloud Ô - A cloud native system that underpins the easy deployment of hardware and software at the edge that manages the VeeaHub devices and their capabilities and edge applications remotely.

Veea technology franchise also includes Veea-authored applications that run on the VeeaHub products.

These applications can be deployed

by our channel partners and customers to compose complete solutions.

Some of these applications are open frameworks that integrate into

broader ecosystems such as Honeywell Tridium’s Niagara, Microsoft’s Azure IoT, or AWS IoT Greengrass.

Other Veea applications

simplify the deployment of enabling technologies to the edge.

As an example, our edge AI framework enables the movement of AI model execution

from the cloud to the edge, bringing the benefits of AI closer to the source of the real-time data so actionable insight can be provided

to control applications running at the edge and thereby reducing inference time and amount of data traversing from the edge to the cloud.

This innovative platform provides for seamless integration with AI capabilities by way of the secure, software container environment

and tool kits for software developers.

Smart Connectivity and Computing Hub

basic building block of the Veea Edge Platform is the VeeaHub, a unique combination of computing, connectivity, storage and security

technologies.

Every VeeaHub has a multi-core Linux server running a patented secure form of industry-standard docker containers to enable

applications to be deployed at the user edge.

The VeeaHub also has Bluetooth Classic and Low Energy, Zigbee/Thread, LoRaWAN (“ LoRa ”)

gateway and multiband Wi-Fi APs.

device has an advanced mesh networking capability, which we refer to as “ vMesh ,” that allows devices at the

edge to act together as a micro-cloud and provides scalable coverage and communications capacity.

The mesh provides flexible deployment

scaling options enabling expansion of the edge solution to expand coverage and capacity, add additional sensors or users or add computing

and storage as needed.

vMesh is self-organizing and self-healing mesh that automatically discovers and connects to newly authorized devices

and redirects traffic if a node fails for resiliency.

There is no dedicated controller for the vMesh, as the control function is incorporated

into the middleware.

can use a variety of wired and wireless connections to connect to the Internet,

including LTE 4G and 5G.

Some VeeaHub models support wired connections to edge devices using standard RS-232/485 connections, which are

useful for smart spaces.

Other models include a standard long range, low power wireless technology, LoRaWAN, which is ideal for outdoor

and industrial use cases.

is available in three different models - (i) VeeaHub STAX (ii) VeeaHub Pro, which is designed for more demanding enterprise applications,

and (iii) VeeaHub Pro Outdoor, which is environmentally hardened and designed for outdoor and industrial applications.

VeeaWare Ô Edge Operating System

is a portable edge operating system that runs on the VeeaHub.

VeeaWare features Veea’s secure container environment that extends

industry standard docker containers, to assure applications running at the edge cannot interfere with or hack the system software running

on the hardware platform or other applications running at the edge.

VeeaWare Operating System (“ vOS ”) enables

Veea and third-party partners to deploy multiple applications to the edge.

incorporates an abstraction layer that allows applications running on VeeaHub products to connect both IP and non-IP devices to a mesh

of VeeaHub nodes.

VeeaWare also incorporates all of the necessary mechanisms to move and store data across the mesh and provide data

connections to the Wide Area Network (“ WAN ”).

includes a set of tools referred to as the VeeaHub Toolkit, which empowers developers to design, test, and publish applications to the

VeeaHub products deployed in the field.

These tools allow any developer to use a wide variety of industry-standard software and practices

to deploy containers into the VeeaHub products in a highly secure and predictable manner.

A web-based portal dedicated to the developer

community provides necessary documentation to get started and to quickly become proficient in developing and deploying custom applications

on the VeeaHub that serve customers’ specific use cases.

process of developing applications with the VeeaHub Toolkit is similar to the process of developing and publishing Android or Apple iOS

target markets represent the fastest growing market segments for a new generation of Edge AI-driven broadband services, IT/OT, and cybersecurity.

To our knowledge, relative to the primary market segments currently served, no solution provider currently offers a direct alternative

to VeeaONE platform with the range of fully integrated communications and computing capabilities (i.e., hyperconverged), applications,

services, solutions, and cloud management as cost-effectively as provided through the VeeaONE platform.

Especially, given that the network

operators, service providers, system integrators, and most enterprises, typically require a complete fully integrated cybersecure solution

for their use cases, we believe that the markets for our fully integrated cloud-managed products and turnkey solutions have arrived and

with sufficient working capital Veea has a significant opportunity for major growth.

core focus is time to revenue in segments that we believe present highly scalable business opportunities through primarily with MNOs,

MSOs, ISPs, MSPs, SIs and other major distributors as our primary distribution channels through our:

SecureConnect™

Service Platform (“SecureConnect”) enables the service providers to deliver an all-in-one solution, with a compact model

of VeeaHub product that fits in the palm of your hand (i.e., “ STAX” and “ STAX-5G ”), combining high-speed

wired and/or wireless broadband, including 5G Fixed Wireless Access (“ FWA ”), router, firewall with enterprise-grade

cybersecurity protection, storage, IoT gateway, and AI-enabled applications for cameras and other IoT endpoints, with multi-tenant cloud-based

management of the entire network, devices and applications.

The VeeaONE device is installed with Zero Touch Provisioning (ZTP) and can

provide for broadband wireline or 5G wireless connectivity with highly advanced AI-driven cybersecurity in less than 30 minutes.

SecureConnect™

turns complex IT for delivery of broadband services, with cybersecurity, over a LAN with microsegmentation of traffic and device type

profiles, that is PCI compliant for POS and payment terminals, into a plug-and-play solution with value-added services tailored for Small

to Medium-size Businesses/Enterprises (SMBs/SMEs) customers.

Our business model for SecureConnect provides for a monthly recurring revenue

from cloud management, AI-driven cybersecurity services, and to the extent subscribed to by the end-users, IoT gateway services, AI inferencing

(e.g., CCTVs with computer vision application at retail locations and construction sites) and multimodal AI agents (e.g., context-aware

insights fused together with network insights such as for location-based targeted advertising based on Veea’s AdEdge™, inventory

management, and other applications) to Veea as a share of the revenue collected by the service provider.

the aforementioned reasons, we expect this product and service offering to ramp up rapidly.

In the regions currently served, 43% of cyberattacks

are targeted at small businesses and only some SMBs/SMEs are adequately prepared to face cyberattacks.

Based on the cyber intrusion data

collected to date, we believe that the AI-driven cybersecurity solution offered with SecureConnect, providing protection for data-at-rest

and data-in-motion, is a better solution for protecting against AI-driven cyberattacks than traditional approaches.

Based on feedback

from the service provider partners and SMBs/SMEs served as well as market data, Veea SecureConnect represents a highly cost-effective

and affordable solution meeting their requirements with differentiated features for this market segment.

Veea has been engaged with RadioMovil

(“Telcel”), a Mexican wireless telecommunications company owned by América Móvil (the “ Telcel ”)

since early 2024 and completed the homologation and carrier certification process for STAX and STAX-5G by late 2024 with the Telcel, which

then soft-launched the SecureConnect services in their coverage areas in March 2024.

In August 2025, we signed a three-year agreement

with Telcel, under which Veea will supply a comprehensive Platform-as-a-Service solution featuring its VeeaHub STAX Ò -5G

Veea and Telcel have agreed to work together in the development of the marketing strategy, branding and promotion of solution

to Telcel’s customers in Mexico.

soft-launch of SecureConnect STAX-5G, with Telcel at their enterprise customer locations commenced in the third quarter of 2025 and,

has been successful, demonstrating a fully commercialized product platform.

Telcel announced its full commercial Telcel of

SecureConnect to its customers in April 2026.

In working together with Telcel, the initial marketing campaign and sales plans in

support of our Go to Market plans have been developed.

This includes Telcel’s marketing webpage, customer support and

fulfillment portals.

Telcel’s end-user customer contract is typically

for 2 years with a Monthly Recurring Revenue ( “MRR” ) paid to Telcel, which is subject to revenue sharing between

We have also initiated a substantial POC with an affiliate of Telcel

in another county for deployments in another region.

STAX and STAX-5G products are also going through the homologation and certification

process with a major ISP.

STAX-5G is also being evaluated by two other network operators in several countries and we expect to initiate

homologation and carrier certification with those operators.

The Serviceable and

Obtainable Market (SOM) is a large percentage of TAM given the cybersecurity challenges faced by the SMBs/SMEs in the target

The Cybersecurity market in the soft-launch country was valued at US$12.75 billion in 2023, and is expected to reach

US$23.13 billion by 2029, rising at a CAGR of 10.27%.

In the soft-launch market, SMBs (for up to 7 devices, such as POS, payment

terminals, laptops per user) spend between $200–$500 for a just a basic security package consisting of antivirus, firewall,

vulnerability scanning, and minimal monitoring.

For full-featured package such as the one offered by SecureConnect that includes

cybersecurity for data-at-rest and data-in-motion, the monthly spent is significantly higher depending on the features included.

Telcel’s pricing total of SecureConnect service offering, including the monthly rental fees for STAX-5G product together with

VeeaCloud management, Cybersecurity service and 5G airtime fees, in total is less than the cost of the currently established cybersecurity

services offered to SMBs by third-party vendors, as just a cybersecurity software and/or cloud-based service, without the edge

device and many of the features that are supported through SecureConnect.

the best of our knowledge from a cost performance perspective, range of features, including leading-edge cybersecurity service, and future-proofed

with additional value-added edge services continually introduced over time, there is no direct competitor for this unique product and

the retention rate of customers acquired is believed to be longer than the average subscriber base churn.

Ericsson forecast provides that the total global Fixed Wireless Access (FWA) subscriptions will grow at 19 percent year-on-year during

the 2022 to 2028 period to reach more than 300 million devices by 2028.

The total market size for indoor Wi-Fi APs in 2025 is estimated

to be on the order of US$17.2 billion in 2024 increasing to US$32.2 billion by 2032 with a CAGR of 8.2%.

Service Platform is another highly unique solution delivered through VeeaONE platform for service providers to uniquely offer turnkey

subscription-based “cellular-like” Wi-Fi and IoT service coverage, with edge applications, that are delivered directly to

the user devices and IoT endpoints indoors and/or outdoors.

The service offering is typically aimed at those use cases, locations, communities

or regions that i) lack cellular coverage, such as lacking indoor coverage in an apartment building or outdoor coverage in a rural community,

ii) IoT endpoints with cellular modems are not already installed, commercially available or feasible (e.g., cameras, thermostats, smart

locks, etc.) or too costly (i.e., cellular modem cost or data service pricing plans).

In such cases, the service provider typically considers

making an investment in the AirLynx network and its operations (i.e., CapEx and OpEx) based on a business model that relies on subscription-based

managed Wi-Fi and IoT endpoint services to distribute or extend the Internet connectivity brought to a location through fiber, 4G/5G

or satellite backhaul services, for either local or wide-area Wi-Fi and IoT coverage, for example, in a commercial building, trailer

park, rural or remote community.

the rural or remote areas, the Internet connectivity services delivered through a satellite terminal or 4G/5G backhaul, AirLynx extends

the Internet connection directly to the end-users’ Wi-Fi devices and IoT endpoints as a fully managed service over a mesh network,

with network slicing over a local area network like an entire village, just like a cellular network coverage for cellphones.

in the rural and remote communities in many parts of the world, where Wi-Fi only devices are either already owned (e.g., laptops, tablets,

or smartphones) or can be obtained at considerably lower cost than cellular devices, the business case based on AirLynx platform solution

becomes much more viable than the cellular business model for the service providers given the costs associated with the cellular network

deployment and the typical in-home 4G or 5G CPE installation.

use cases for AirLynx fall into two primary categories:

with common indoor spaces

category is typically represented by real estate with common areas such as hospitality spaces (e.g., hotels and resorts), office buildings,

coworking spaces, Multi-Dwelling Units (MDUs), condominiums and gated communities, trailer parks, dormitories, cruise ships, shopping

centers, and others.

In this case VeeaHub and third-party vendor products, that are running VeeaONE software stack, installed throughout

the coverage area create a connectivity and computing mesh network that delivers AirLynx platform solution with cybersecure broadband

and value-added services delivered directly to the subscriber devices and IoT endpoints.

the case of places with common indoor spaces, typically the property owner elects to adopt AirLynx solution to provide for subscription-based

cybersecure broadband coverage with managed Wi-Fi on a subscription-basis to the building tenants (e.g., the individual units or offices)

with coverage in the common areas with value-added services, including IoT connectivity services, which are delivered directly to the

end-user devices, cameras, smart locks, thermostats, security sensors, leak detectors and other IoT endpoints.

The value-proposition

offered, for example, by a property owner to the subscribers represents a new source of income that can increase over time with additional

Edge AI-driven value-added services along with space monitoring and automation capabilities of AirLynx platform including energy and

building management system, based on containerized Honeywell Niagara application uniquely offered by Veea, and predictive maintenance.

lacking wide-area cellular coverage

one billion households, representing 45% of global households, are without Internet connectivity within the household dwelling with a

shared CPE or router connected to a public network.

This represents approximately 3.7 billion people across the globe with over 2.6 billion

of the people living in those households without a cellular device or any form of Internet connectivity.

another category of use cases, AirLynx service platform delivers affordable Internet connectivity and digital services to unserved, underserved,

and remote areas.

Typically, in the rural and remote areas bandwidth (i.e., throughput for Internet connectivity) is at a premium and

the bandwidth-intensive applications, such as tele-education, tele-health, entertainment or gaming content, must be at least partially

delivered locally to varying degrees with cached content at the edge, with or without application of AI, as opposed to purely cloud-based

AirLynx platform’s unique capability to run applications locally

and deliver value-added services along with Internet connectivity services, enables delivery of tele-education, tele-health, tele-training,

IPTV for entertainment content, public safety, smart-farming and precision agriculture, water and renewable energy management, environmental

monitoring and many others.

Cybersecurity, including Trust Domains and Zero Trust Network Access (ZTNA), is an embedded feature of AirLynx

network solution.

Moreover, wide-area private AirLynx networks support roaming between locations and communities covered by the same service

provider enabling its subscriber base to access Internet and value-added services at any location with AirLynx coverage.

The Wi-Fi Alliance

has estimated that the global economic value of Wi-Fi, driven in part by efforts to expand coverage in rural and remote areas, effectively

helping to bridge the digital divide, is a share of a total value of nearly $4.9 trillion in 2025.

This immense value underscores

how Wi-Fi enables affordable internet connectivity in under-served regions, supporting education, healthcare, e-commerce, IoT, and other

services that drive growth and inclusion.

A study, from November 2023, authored by researchers from George Mason University, University

of Oxford and the IMF estimates that out of $418 billion that will be invested to connect all unconnected citizens globally, 73% will

be in emerging market economies and 24% in low-income developing countries.

network solution has been deployed to provide for wide-area coverage in multiple locations in Indonesia, Mexico, Colombia, Brazil and

Uganda along with POC networks deployed in other regions.

AirLynx was first deployed and demonstrated in collaboration with CableLabs

and Liberty Latin America (“ LLA ”) to provide for Wi-Fi-based fixed broadband access and IPTV services in low-income

area of Tarana Chapo, Panama, in 2021.

The network has been in continuous operations without any interruptions to date.

pandemic, children using Chromebook and other devices were able to connect to schools over Wi-Fi connections delivered from pole-mounted

VeeaHub units.

Veea is now evaluating a similar project with LLA in Jamaica.

Panama deployment, AirLynx was deployed in several villages in West Java and North Kalimantan, Indonesia, in 2023 in partnership with

PT Bum Desa Indonesia , which is a village association with an ISP arm and is partially subsidized by the Indonesian government mandate

to bring Internet connectivity with satellite backhaul to 8,000 villages throughout Indonesia.

BDI has developed a number of value-added

services based on applications that run on VeeaHub units in collaboration with Veea and third parties including precision agriculture,

AI-powered edge-managed online school system in Indonesian language, which is being adopted for other languages with a Small Language

Model (SLM), an edge-only “WhatsApp-like” type of messaging platform with text, voice and video, called HiveChat developed

by Veea, that runs locally on VeeaHub units to minimize the amount of data transmitted through the satellite backhaul.

Mexico, StarGroup, a mobile communications and satellite-based Pay TV entertainment company, in partnership with Veea has commercially

deployed AirLynx Internet connectivity services offered standalone or bundled with Pay TV services.

We are actively working with StarGroup

on the deployment plans in more locations since successful completion of a POC and commercial lunch of the same network in Q1 2025.

our partnership with StarGroup, we expect that StarGroup will work to roll out AirLynx networks in over hundred villages and small towns

over the next 12 months.

Given the Pay TV content that StarGroup can offer with or without a satellite terminal, which only differs in

picture quality and upfront cost of service installation, we believe a more accelerated market penetration is feasible in those StarGroup

markets that AirLynx is deployed.

We have established a revenue sharing business model that generates a monthly recurring revenue for

both parties.

have also entered into a commercial trial agreement with Viasat, a global communications company that provides satellite and other communications

services, that is known for its high-speed internet services and solutions for various sectors such as defense, aviation, and maritime.

Under contract with Comisión Federal de Electricidad (CFE), Viasat has already deployed satellite terminals at large number of

sites in different villages and small towns throughout Mexico, to eventually provide for “Internet para Todos” service, which

is free “Internet for everyone” fully subsidized by the Mexican government.

Viasat needs to provide wide-area coverage for

Internet connectivity at every one of the aforementioned sites beyond the one site deployed in every community for satellite backhaul

The first deployment of AirLynx with Viasat was successfully completed in Cuetzalingo,

Mexico, in the third quarter of 2025 and commercially launched in the fourth quarter of 2025.

Similarly, we have established a revenue

sharing business model that generates a monthly recurring revenue for both parties.

Given Viasat’s global operations, we expect

the partnership to expand beyond Mexico.

the case of AirLynx deployments in Uganda in partnership with BG Titan, the service provider (i.e., SOMBHA) provides for a government

subsidized shared AirLynx platform infrastructure, together with a captive portal, for multiple ISPs to offer Internet connectivity at

most affordable prices along with free or ad-supported secure voice, data and video communications on local networks.

The Ugandan government

intends to disseminate announcements and notifications to its citizens, along with various health and educational content cached at the

edge, through the AirLynx networks.

Phase 1 of the development activities were completed in the fourth quarter of 2025.

network solution is cloud-managed by VeeaCloud with dynamic rules and policy management.

It offers flexible billing models beyond typical

cellular subscription services (e.g., time of day, usage, number of devices per subscription, device type) with Bring Your Own Device

(BYOD) and subscription sharing with “friends & family”, where subscription services are consumed across designated devices

on one subscription.

Similar to SecureConnect services, Veea realizes revenue from the sale of VeeaHub products, network design professional

services and revenue sharing with service providers.

Service Platform

early justifications for edge computing were to address the costs of bandwidth by pre-processing of data at the edge before

transmission to the Cloud, such as in the case of smart cities or building-automation systems, the rise of real-time applications that

need fast processing and response at the edge, such as video processing and analytics, smart grid, artificial intelligence, robotics,

and virtual and augmented reality have greatly expanded the range of use cases for VeeaHub platform.

Many times, such applications require

uninterrupted operations (e.g., mission critical applications), significantly lowers latency at most in milliseconds, data security and

privacy, which are most efficiently addressed by a fully integrated edge solution.

many IoT use cases, without even considering the application of AI, the edge nodes generate vast amounts of data.

Surveillance systems

today top data generation with 20-40 megabytes of data per second but there are use cases where significantly more data is produced at

For these applications data need to be analyzed at the edge, communicate directly amongst local nodes, and send only filtered

data or abstracted data back to the central cloud.

Moreover, IoT applications, supported by Edge AI, are poised to further revolutionize

various industry sectors.

However, the consumers of IoT data rely on analytics “on the edge” and in the Cloud to fulfill

the tremendous promise of IoT connectivity.

Without analytics, an IoT connection to the network would be like trying to hear a single

voice in a crowd of millions.

represents the culmination of the capabilities of VeeaONE platform for AI-powered Smart Edge.

The combined capabilities of SecureConnect,

AirLynx, and VeeaONE IoT platform together with Veea- or third party-developed applications driven by AI, presently for a number of specific

and differentiated use cases described in this section.

Besides the unique capabilities of SecureConnect and AirLynx, the other core

capabilities of MetaLynx Service Platform around which many of the solutions for the use cases are implemented:

VeeaONE IoT Platform – VeeaHub IoT Gateway offers a powerful IoT capability with Edge

With Bluetooth Classic and BLE, Zigbee/Thread/Matter modules, with LoRaWAN gateway made available on certain indoor and outdoor

models, and vMesh extending the IoT connections on a wide area basis, along with onboard data processing and virtualized software

environment for edge applications.

In particular, to our knowledge, VeeaHub VHH09 outdoor “All-in-One” product is currently

the only product in the market with an integrated LoRaWAN gateway, cellular module for private and public network connections, runs

applications at the edge with sufficient memory and storage for IoT use cases standalone or on a mesh network, and cloud and/or local

management of VeeaHub units deployed.

VHH09 and other VeeaHub units with LoRaWAN gateway, can run the entire LoRaWAN stack and application

server on the VeeaHub unit without any cloud dependency.

It can provide coverage to thousands of LoRa sensors typically over 10-20

mile radius in the rural areas, depending on the height of installation and type of terrain.

LoRaWAN has become a cornerstone of

global low-power wide-area network deployments, demonstrating steep growth across industries like smart cities, agriculture, utilities,

and industrial IoT.

According to the LoRa Alliance’s 2023 report, the technology now supports robust, ROI-driven deployments

in smart buildings, cities, and satellite-enhanced LPWAN—solidifying its leadership for Industry 5.0.

Public LoRaWAN

networks, built by telecoms and other operators, now cover extensive areas and underpin critical IoT services—reinforcing its

status as the preferred low-power, long-range connectivity standard worldwide.

Niagara® Building and Energy Management Systems - Honeywell Tridium’s Niagara 4

application is one of the most widely adopted platform solutions for process automation and commercial building industry.

Framework has over 1.2 million instances of installations for a wide range of vertical markets in many countries including the US.

The containerized version of Niagara 4 Building Management System (“ BMS ”) software was first implemented and ported

on VeeaHub products in 2020.

Niagara BMS can be offered together, optionally with Smart Automation & Control for Spaces (“ SACS ”)

application, on VeeaONE platform to hospitality vertical, commercial buildings, MDUs, public housing, hospitals, nursing homes, and

various energy production and refinery facilities among many others.

Combined with AirLynx, for network slicing, and/or SecureConnect,

for network connectivity with cybersecurity, it can provide for data subscription services to individual building functions - paid

by building owners or property managers.

Examples of industrial installations to date are commercial buildings, various industrial

facilities and precision agriculture and Smart Farming delivered to the edge standalone or together with Microsoft Azure FarmBeats

applications.

Once a container has been created and tested locally, the developer submits it to a VeeaCloud repository for publication,

and after the required verification is performed, the application becomes available within the VeeaCloud.

Applications can be developed

by Veea, its channel partners or the end-users for particular use cases.

has proven portability in that the Veea product portfolio incorporates hardware designs with different core computing platforms, connectivity

options and other peripheral interfaces.

In the future, we intend to license the VeeaWare edge operating systems to OEM and ODM partners

to diversify and expand the supply chain and open up opportunities in adjacent marketplaces that may require specialized hardware.

an example, certain industries require explosion-proof designs at the edge.

VeeaCloud is the cloud-based

platform that powers the deployment and management of VeeaHub products at the edge, provides management for the networking across the

IT and OT domains, and offers full orchestration of application deployment and observability of the applications running on VeeaHub products.

It incorporates a web-based control center for managing devices and applications at the edge, as well as a companion smartphone app, for

both iOS and Android OS devices, called VeeaHub Manager (“ VHM ”) for installers, field technicians, and end users

to install and manage VeeaHub products locally.

has a rich set of Applications Programming Interfaces (“ APIs ”) to integrate into external Business Support

Systems/Operations Support Systems (“ BSS/OSS ”) or the Manager of services providers and our distribution partners

that operate convergent Network Operations Systems and support user management.

The system utilizes a single sign-on system that integrates

into leading user authentication systems.

The product features a multi-tiered authentication and permission system to support multi-tenant,

multi-level distribution schemes and can scale elastically to a large number of deployed nodes, users and devices.

is a cloud native platform deployed using modern continuous integration/continuous delivery approaches and is agnostic to public cloud

is the foundation for publishing applications developed with the VeeaHub Toolkit.

Edge Applications

has developed software templates that speed the development of complete containers and other building blocks, a number of which are standalone

containers that can be licensed and resold by third parties.

Other than the containerized Niagara Framework application, these include

the following:

Software Defined Wide

Area Networking (“ SDWAN ”) Application .

Provides flexible options for connecting nodes in a mesh of VeeaHubs Ò

to the public network (“ Backhaul ”) using wired (ethernet, fiber) or wireless (Wi-Fi, 4G/5G) connectivity.

Global 4G or 5G Subscription

A range of cellular connectivity solutions fully integrated with VeeaHub products for Veea partners and service providers

to offer Fixed Wireless Access (“ FWA ”) broadband services including for IoT applications, simplifying deployment,

billing and support.

Last-Mile Solutions

with vTBA-based Managed Internet and IoT Connectivity Services.

Services for multi-dwelling units, housing communities, campuses,

hospitals, airports, rail stations, and remote and rural communities.

IoT Gateway Application.

VeeaHub incorporates integrated IoT radios for IoT or Industrial IoT (“ IIoT ”) use cases that require

the ability to bind IP and Non-IP endpoints with the system.

Registers the IoT endpoints (sensors, actuators, etc.) to the device

abstraction layer enabling routing of messages over vMesh on the edge.

Veea Property Management

Open platform for integrated smart devices using common home wireless technologies such as Wi-Fi, Zigbee/Thread and Bluetooth.

Designed for consumer-oriented use cases, such as homes, multi dwelling units and small businesses.

Blockchain Framework .

Helium v2 Certified distributed blockchain model.

Leading IoT platforms .

Microsoft Azure Edge IoT Certified, AWS Greengrass compliant.

Edge AI & Visual

Analytics Frameworks .

Distributed solution for execution of AI models from the edge to the cloud.

Advanced Smart Farming and Precision Agriculture.

Unique implementation of LoRaWAN Gateway.

Honeywell Niagara Framework Building and Energy Management System (“ BMS/EMS ”).

Advanced advanced Cyber Defense System for commercial real estate, datacenters and critical infrastructure.

of the turnkey edge applications Veea has created have a companion cloud application for centralized control, content management, or

interworking capabilities for cloud-to-cloud connections.

These include the following:

AdEdge Edge Content Player and Campaign Management .

Full stack advertising and content management platform.

AdEdge is an AI-driven contextual and location-based ad platform.

Supports advertising campaign (frequency, scheduling, product types, etc.) and media deployment across TROLLEE Ò Smart Shopping Carts, a fleet of digital out of home displays, or augmented reality/mixed reality devices using edge playback and scheduling function, full attribution for billing.

Supports ad sale platform using programmatic and non-programmatic techniques and open APIs.

Virtual Trusted Broadband

Access (“ vTBA ”) Cloud Controller .

A core management system for delivery of vTBA enabled services across deployed

meshes with edge nodes running the container vTBA agent.

Allows configuration of access point groups, Trust Domains and service policy

Provides northbound interfaces for BSS/OSS integration with the backends of the service providers, property management

companies, government agencies, and others that provide vTBA based services.

API supports integration with 4G/5G core networks for

seamless interworking of services across different network types for fixed and mobile convergence.

VeeaConnect Connection

Edge-managed voice, data and video service connection manager that maintains user plane traffic between users connected

to a set of VeeaHub products in a mesh within the mesh and off of the WAN connection.

combination with partner-developed edge applications, the Veea technology franchise delivers significant value to the end consumers of

services built on the Veea Edge Platform, including:

Technology-Enabled

Benefits of Veea Platform

Minimizing latency and

the raw data transport to the Cloud.

Privacy, security, data

ownership and context awareness.

Fault tolerance for mission

critical and other edge applications including customized apps developed through Veea Developer Portal.

Addressing connectivity

and networking challenges at the edge.

Private micro-datacenter

with wired and wireless coverage.

Fixed line and 4G/5G broadband

access with value-added services.

Gateway/Edge Device for

Microsoft Azure IoT and AWS IoT Greengrass apps.

Micro-Cloud Computing at the Device Edge

High-performance computation

with Linux OS running on a quad-core CPU.

Virtualized software environment

with Secured Docker containers for applications and service layers with Software Defined Networking (“ SDN ”)

and Network Function Visualization (“ NFV ”).

Secured Docker containers

for apps to run in a trusted execution environment with both the containerized apps and communication interfaces secured with digital

certificates.

widely adopted AI, mostly in the form of LLM, resembles mainframe computing in the early days of computing.

However, for everyday enterprise,

industrial and consumer use cases at the edge, AI is becoming distributed.

Edge AI extends the Cloud AI to the Device Edge, or within

a short range of Device Edge, while augmenting Physical AI, which is AI embedded into machines, robots, or physical systems, allowing

them to move, sense, interact, and respond intelligently to the physical world.

further explained below, edge computing and Edge AI have become synonymous as a “single system” at the edge, which may be

offered in one fully integrated product or separately but securely networked or meshed together, depending on the nature of the use case.

In a nutshell, Edge Computing together with Edge AI at the Device Edge and Physical AI are mutually reinforcing.

Together, they form

the technological foundation for the next generation of intelligent autonomous machines — reshaping manufacturing, logistics, mobility,

healthcare, and smart environments.

rapid expansion of connected devices and the exponential growth of data generation at the network edge have challenged traditional cloud-centric

AI processing models.

The combination of Edge AI and edge computing converged with networking, as represented by VeeaONE, is not merely

an optimization of existing network models but a fundamental shift that defines the future of AI-driven digital transformations.

Edge AI capabilities can make all of this possible, not in theory, but in practice today.

convergence of edge computing with Edge AI provides for:

AI inferencing pipelines

optimized for near-real-time decision making;

Hierarchical AI architectures

- combining local sub-models with central/global models;

Distributed federated learning

techniques enabling privacy-preserving distributed training;

Efficient model updates

and versioning through secure cloud-edge synchronization;

primary use cases that may be supported by MetaLynx platform, and in many cases with off-the-shelf AI models, includes:

Construction —

construction safety, automated job and resource tracking, behavioral sensing, fire, gas and water leak detection, digital twin

Energy and In-Building

Climate Management — energy grid monitoring, building management and automation, lighting controls, predictive maintenance,

waste management based on containerized Niagara BMS or other integrated applications

Hospitality (hotels

& venues) — edge chatbots for check-in and concierge tasks, room automation, real-time on-site recognition, energy

monitoring and management, building automation, lighting controls, predictive maintenance, waste management

Retail & Consumer

— augment for smart shopping carts for real-time personalized recommendations, self-check outs, shelf inventory management,

impression analysis

Healthcare (home, nursing

homes, clinics and hospitals) — HIPPA compliant remote patient monitoring, intelligent medical devices, asset and resource

management at hospitals, environmental monitoring and controls, behavioral sensing

Precision Agriculture

– smart irrigation, smart spraying of fertilizer and pesticide, weed detection, greenhouse environmental monitoring and controls,

yield prediction

Shipping ports —asset

monitoring and management, worker safety, intelligent surveillance, predictive maintenance

Public Utilities

— remote asset monitoring, intelligent surveillance, predictive maintenance

Defense & Public

Safety — unmanned systems, intelligent surveillance, predictive maintenance, AI-driven IoT

Smart Manufacturing

— anomaly detection, worker safety, environmental controls, predictive maintenance

Transportation —

supply chain and asset management, operator safety, real-world data-collection with cameras and sensors, refrigeration monitoring

and controls, predictive maintenance

Production Plans

software stack currently is supported on a number of third-party hardware products that meet its basic requirements.

This enables delivery

of heterogenous networks at the edge.

However, even though VeeaWare full-stack software is designed to be hardware platform agnostic

to the extent possible, to date such third-party products with the required functionality, processing and power performance in the right

dimensions, and competitively priced have not been brought to the market by ODMs/OEMs.

In particular, the types of products that are

required for a broad range of use cases, must provide for a virtualized software environment with Software Defined Networking (SDN),

Wi-Fi AP and IoT gateway for multiaccess multi-protocol communications for the LAN and the WAN connections including 5G, integrated but

distributed data storage at the edge, product platform security (i.e., hardware host OS and embedded software security), while providing

for Veea developed and third-party applications including cybersecurity beyond platform security.

a result, since its inception Veea has developed several generations of VeeaHub products, about the size of a typical Wi-Fi Access Point

(“AP”), in a variety of form factors with different capabilities for indoor and outdoor coverage.

However, Veea is working

with its current and new ODMs to relegate supply of its current products and the next generation products directly to its customers.

For the next generation products, Veea intends to provide the hardware product platform architecture, system and reference designs, which

has become a more complex design and implementation process with the inclusion of AI processor in the product design, with more power

consumption requiring unique form factor designs for thermal management, and the associated software integration of the AI and other

embedded modules.

We have completed one highly novel modular design and are in discussions with two ODMs for licensing of the reference

design supporting a more distributed edge computing, multiaccess communications, and storage, with several AI-capable processor modules

to select from for different use cases.

Platform Capabilities

is a full stack “cloud native” Edge to Cloud computing and communications platform, for unparalleled processing and management

of workloads and containerized applications, that offers a connectivity mesh among the VeeaHub units at the Device Edge, which in turn

provides for a computing mesh, application mesh and service mesh vMesh® (“vMesh”) across the continuum of the

Device Edge to the Cloud according to the workload or the application requirements.

VeeaONE platform

offers an alternative to or an extension of cloud computing for where the end-user applications run, data is stored, machine learning

is performed, and AI models are applied.

With unique networking, software and Edge AI technologies, VeeaONE enables the formation of

secure, but easily accessible, private clouds and networks across one or multiple enterprise locations across the globe.

The end-to-end

network solution is designed to be hardware agnostic.

The network and end-user devices deployed may be supplied by the Company, system

integrators, service providers or ODMs/OEMs.

service providers, equipment suppliers, system integrators and even hyperscalers have adopted or advocated for solutions similar to VeeaONE

platform to various degrees either independently or in collaboration with the Company that bring to market patented technologies that:

bring Virtualized Data

Center (“VDC”) capabilities to the far edge of the network, commonly referred to as the Device Edge, where all

wired and wireless devices connect to the Edge;

spawns hyperconvergence

of Edge Computing on a vMesh;

enables Edge AI including

AI-driven cybersecurity for multi-vendor heterogenous networks;

supports devices developed

by the Company and third parties, with any combination of CPUs, GPUs, TPUs, DPUs and/or NPUs, that run on VeeaWare;

provides for cloud-management

and orchestration VeeaCloud (“ VeeaCloud ”) of Veea-developed and VeeaWare-enabled third-party devices and applications

enables enterprises, system

integrators, or service providers to develop bespoke solutions and use case-specific applications utilizing Veea Developer Portal

and VeeaHub Toolkit™ (“VHT”) .

platform offers the ability to form private networks through distributed micro-cloud environments, with the ability to host private 5G

networks, at the Device Edge with VeeaHub devices to provide for:

A Linux OS server, as a

minimum with a quad-core CPU, providing for a virtualized software environment,

Secured Docker ®

containers for applications and service layers to run in a trusted execution environment with both the containerized apps and communication

interfaces secured with digital certificates,

Software Defined Networking

(“ SDN ”) that extends network slicing from the WAN to the LAN,

Network Function Visualization

Patented wired and wireless

mesh networks across LAN and WAN, with tunneled connections, that create a computing mesh, application mesh, microservices mesh with

Edge AI applied across the mesh network (i.e., vMesh),

Wi-Fi AP supporting network

slicing over LAN,

A mesh router with advanced

A firewall with integrated

AI-driven cybersecurity,

An IoT gateway supporting

Bluetooth, including BLE, Zigbee and Thread, Matter, and a LoRaWAN gateway with a fully incorporated ChirpStack,

4G/5G fixed wireless access,

Distributed data storage

at the edge with NVMe modules,

Both locally- and cloud-managed

for provisioning, monitoring and maintenance through VeeaCloud.

Offers a gateway/Edge Device

for Microsoft Azure IoT and AWS IoT Greengrass V2 apps,

a high-level VeeaONE platform’s VeeaCloud provides for:

Comprehensive management

of devices, applications and micro-clouds with flexible service policy definitions, billing models and network partitioning,

Kubernetes-based orchestration

Private micro-data centers

with heterogenous network of VeeaHub units and third-party edge products, including those products with AI processors/accelerators

on mesh clusters,

Application of Edge AI

models supported by federated machine learning with any combination of inferencing and multimodal Agentic AI, optionally, with Small

Language Models (“ SLMs ”),

Built-in routing, scaling,

load balancing & orchestration for the edge environment and services,

API and microservice driven

>> cloud-managed apps.

the IT/OT Gap

Industry leading Containerized

Niagara combined with modern IT Style remote management tools.

Secure 4G or 5G WAN connectivity.

Integration with Private

5G Network Core Network Orchestrator simplifies the management of edge applications and devices.

Familiar IT deployment

patterns with Containerized Niagara, Azure IoT Certification, and AWS IoT Greengrass ease incorporation with cloud-based backend

services of the enterprise in a variety of use cases.

Open APIs for Business

Process Logic integration.

Familiar deployment pattern

for both IT and OT personnel using untrained technicians facilitated by our attention to “zero-touch” approaches.

Unique cellular-like Wi-Fi

functionality, with roaming within the coverage of the VeeaHub products, gives operators and enterprise managers unprecedented visibility

and control of the people places and things in their network.

Cloud Control provides

flexible service policy definitions, billing models and network partitioning.

Works with a broad range

of IP and non-IP devices and wired and wireless devices (e.g., Wi-Fi, Bluetooth, Zigbee/Thread, LoRaWAN) unlocking the potential

for offering managed services for every type of endpoint.

Secure separation of traffic

from different or designated groups of devices into Trust Domains increasing security with ZTNA for all services.

Virtualizes Access Points

to drive down connection costs and increase affordability.

Enables CPE-less deployment models reducing ongoing operation expense.

To our knowledge, the Veea Edge

Platform Ô and its key building block the VeeaHub is the only edge computing product that

infuses a single physical device with the traits of a networking device, IoT gateway, Linux server, storage and security gateway.

Veea Edge Platform has several key differentiating features, including:

Rapid scaling through meshing

of multiple nodes to expand connectivity coverage, adding more computing power, memory or storage capacity.

vMesh is more extensible

than mesh networking offered in comparable consumer or enterprise products

High degree of integration

reduces the number of hardware elements needed to deliver solutions, reducing initial capital outlay, installation costs and reducing

ongoing management complexity and other operating costs (i.e.

power consumption).

Open APIs, with containerized

microservices, for specific business process logic integration and cloud-managed apps at the edge,

Simplified management of

edge applications and devices for an integrated private 5G network through a core network controller/orchestrator.

Veea has also developed

software templates that speed up the implementation of applications.

A number of standalone containerized application have been developed

by third parties with the Honeywell’s Niagara Building Management System (BMS) application being made available exclusively

on VeeaHub products presently.

of the comprehensive capabilities of VeeaONE platform, VeeaCloud, provides for the servers, user interfaces and services required to

deploy, authenticate, manage, and update VeeaHub devices, applications and edge networks and the associated mesh networks.

This includes

the bootstrap and image servers for delivery of platform software, applications, and software updates;

the Management and Authentication

server for device management, monitoring and maintenance;

the control center providing for the device and network management of the user

and admin interfaces;

and the Activation and Configuration Service server.

The combination of bootstrap and enrollment servers provides

for secure boot device activation, authentication, and network access policy control with Single Sign-On (SSO) based on Keycloak across

the entire platform.

When VeeaHub devices are activated locally for the first time, they are enrolled using the VHM Smartphone App.

app runs auto-configuration on the devices with the help of the enterprise server and installs all the services the end-user has subscribed

our knowledge, VeeaONE platform capabilities are highly differentiated including VeeaHub product as the only edge computing product that

infuses a single physical device with the traits of a networking device with a broad range of wired and wireless capabilities, IoT gateway,

Linux server, multiple storage options, router and firewall with AI-driven cybersecurity.

VeeaONE platform’s key differentiating

features include:

VeeaWare OS with patented

1 unchanged sentence

orchestrated over a connectivity mesh, that provides for an application and microservices mesh, with hyperconverged networking at

Flexible choice of wired

and wireless interfaces results in reduced installation cost and time.

vMesh, enabling a networking

mesh, a computing mesh, an application mesh, a microservices mesh, and an Edge Intelligence mesh, is more extensible than mesh networking

offered in comparable consumer or enterprise products.

Rapid scaling at the Device

Edge through mesh networking of VeeaHub and third-party product nodes to expand connectivity and coverage for wired and wireless

protocols on a heterogenous network, while adding more computing power, memory or storage capacity.

Edge AI Total Fabric capabilities.

Pervasive security, to

2 unchanged sentences

supports pre-provisioning of devices before installation.

High degree of integration

reduces the number of hardware elements needed to deliver solutions, reducing initial capital outlay, installation costs and reducing

ongoing management complexity and other operating costs (i.e.

power consumption).

Flexible choice of wired

and wireless interfaces results in reduced installation cost and time.

Non-skilled installers

12 unchanged sentences

tools for deployment, configuration, and over the air updates and troubleshooting.

of December 31, 2024, we had a patent portfolio consisting of 121 exclusively owned patents, as summarized in the table below.

patents cover jurisdictions in the United States, United Kingdom, Europe, South Korea, Japan, and India.

All of our current-issued patents

are projected to expire between 2036 and 2047.

of December 31, 2025, we had a patent portfolio consisting of 116 exclusively owned issued patents, as summarized in the table below.

These patents cover jurisdictions in the United States, United Kingdom, Europe, South Korea, Japan, and India.

All of our current-issued

patents are projected to expire between 2036 and 2047.

We also have 26 patent applications pending.

(“ Qualcomm ”) has licensed, on a non-exclusive basis, certain intellectual property to us under multiple

agreements covering the sales of our products that incorporate the licensed IP.

The royalty fees payable to Qualcomm are generally calculated

based on a percentage of net sales in territories where the licensed IP is protected by a patent.

(“ Qualcomm ”) has licensed, on a non-exclusive basis, certain intellectual property to us under multiple agreements

covering the sales of our products that incorporate the licensed IP.

The royalty fees payable to Qualcomm are generally calculated based

on a percentage of net sales in territories where the licensed IP is protected by a patent.

The Qualcomm licenses expire in April 2030

and 2029, respectively, and automatically renew if we continue to sell products incorporating the licensed IP.

We are also a party

to a non-exclusive license agreement with Cable Television Laboratories, Inc.

(“ CableLabs ”) covering the worldwide

sales of our vTBA Ô product.

The rights granted under the CableLabs license apply to any fields of use and royalty, and royalty fees payable to CableLabs are calculated

based on a percentage of net sales.

The term of the CableLabs license lasts until the last to expire of any patents licensed under the

We are also a party to

a non-exclusive license agreement with Cable Television Laboratories, Inc.

(“ CableLabs ”) covering the worldwide sales

of our vTBA product.

The rights granted under the CableLabs license apply to any fields of use and royalty, and royalty fees payable

to CableLabs are calculated based on a percentage of net sales.

The term of the CableLabs license lasts until the last to expire of any

patents licensed under the agreement.

also rely upon trade secrets, know-how, and continuing technological innovation to develop and maintain our competitive position.

2 unchanged sentences

to assign to us their inventions.

Patent Family

Application No.

DYNAMIC ROUTER FUNCTIONALITY IN CELLULAR NETWORKS

60 2016 012 782.2

DYNAMIC ROUTER FUNCTIONALITY IN CELLULAR NETWORKS

60 2016 020 735.4

DYNAMIC ROUTER FUNCTIONALITY IN CELLULAR NETWORKS

60 2016 004 769.1

DYNAMIC ROUTER FUNCTIONALITY IN CELLULAR NETWORKS

COMMUNICATION UNIT EMPLOYED AS A REMOTE ROUTER AND METHOD FOR ENFORCEMENT

CONTENT TRANSFER FUNCTIONALITY BEYOND OR WITHIN CELLULAR NETWORKS

MOBILE WIRELESS COMMUNICATION UNIT AND METHOD FOR CONTENT TRANSFER

WIRELESS COMMUNICATION UNIT AND METHOD FOR SHARING DELAY TOLERANT CONTENT

60 2017 019 214.7

WIRELESS COMMUNICATION UNIT AND METHOD FOR SHARING DELAY TOLERANT CONTENT

WIRELESS COMMUNICATION UNITS AND WIRELESS COMMUNICATION SYSTEM AND METHODS TO SUPPORT BEACON TECHNOLOGY

EDGE COMPUTING SYSTEM

ROUTER NODE, NETWORK AND METHOD TO ALLOW SERVICE DISCOVERY IN A NETWORK

602017015130.0

ROUTER NODE, NETWORK AND METHOD TO ALLOW SERVICE DISCOVERY IN A NETWORK

ROUTER FUNCTIONALITY IN CELLULAR NETWORKS

60 2016 012 782.2

ROUTER NODE, NETWORK AND METHOD TO ALLOW SERVICE DISCOVERY IN A NETWORK

EDGE COMPUTING CONTAINER SYSTEM

Edge Communication Device

ROUTER FUNCTIONALITY IN CELLULAR NETWORKS

60 2016 020 735.4

ROUTER FUNCTIONALITY IN CELLULAR NETWORKS

60 2016 004 769.1

Edge Communication Device

ROUTER FUNCTIONALITY IN CELLULAR NETWORKS

COMMUNICATION

UNIT EMPLOYED AS A REMOTE ROUTER AND METHOD FOR ENFORCEMENT

COMMUNICATION

UNIT EMPLOYED AS A REMOTE ROUTER AND METHOD FOR ENFORCEMENT

COMMUNICATION

UNIT EMPLOYED AS A REMOTE ROUTER AND METHOD FOR ENFORCEMENT

COMMUNICATION

UNIT EMPLOYED AS A REMOTE ROUTER AND METHOD FOR ENFORCEMENT

COMMUNICATION

UNIT EMPLOYED AS A REMOTE ROUTER AND METHOD FOR ENFORCEMENT

TRANSFER FUNCTIONALITY BEYOND OR WITHIN CELLULAR NETWORKS

WIRELESS COMMUNICATION UNIT AND METHOD FOR CONTENT TRANSFER

COMMUNICATION UNIT AND METHOD FOR SHARING DELAY TOLERANT CONTENT

60 2017 019 214.7

COMMUNICATION UNIT AND METHOD FOR SHARING DELAY TOLERANT CONTENT

COMMUNICATION UNITS AND WIRELESS COMMUNICATION SYSTEM AND METHODS TO SUPPORT BEACON TECHNOLOGY

COMPUTING SYSTEM

NODE, NETWORK AND METHOD TO ALLOW SERVICE DISCOVERY IN A NETWORK

602017015130.0

Edge Communication Device

Integrated antenna-heatsink for wireless device applications

11,563,262 B2

Integrated antenna-heatsink for wireless device applications

NODE, NETWORK AND METHOD TO ALLOW SERVICE DISCOVERY IN A NETWORK

COMPUTING CONTAINER SYSTEM

AND APPARATUS FOR PROCESSING A SIGNAL

Communication Device

antenna-heatsink for wireless device applications

11,563,262 B2

Expandable product architecture bus for consumer electronics gateways

Module identification method for expandable gateway applications

antenna-heatsink for wireless device applications

product architecture bus for consumer electronics gateways

identification method for expandable gateway applications

11,641,413 B2

Resilient Antenna Securing Mechanism

Method and System for IoT Edge Computing using Containers

Method and Procedure for miniaturing a multilayer PCB

Antenna Securing Mechanism

and System for IoT Edge Computing using Containers

and Procedure for miniaturing a multilayer PCB

11,523,502 B2

Method and Procedure for miniaturing a multilayer PCB

and Procedure for miniaturing a multilayer PCB

11,950,361 B2

Cable Pull Tab

Systems and Methods for Collaborative Edge Computing (AR/VR Edge Devices)

Method and System for Secure Container Application Framework

and Methods for Collaborative Edge Computing (AR/VR Edge Devices)

and System for Secure Container Application Framework

12,015,613 B2

Method and System for Secure Container Application Framework

VHC25 heatsink and antenna structure

Stacker Electromagnetic Interference Shield

Stacker Base Module, LTE Stacker Module, Mase and Stacker combined

and System for Secure Container Application Framework

VHC25 heatsink

and antenna structure

VHC25 heatsink

and antenna structure

VHC25 heatsink

and antenna structure

Stacker Electromagnetic

Interference Shield

Stacker Electromagnetic

Interference Shield

Base Module, LTE Stacker Module, Mase and Stacker combined

BR302022001478-8

Stacker Base Module, LTE Stacker Module, Mase and Stacker combined

Stacker Base Module

Base Module, LTE Stacker Module, Mase and Stacker combined

ZL202230157775.5

Stacker Base Module

008916001-0001

LTE Stacker Module

Stacker Module

008916001-0002

Stacker Base Module with LTE Stacker Module (combined)

Base Module with LTE Stacker Module (combined)

008916001-0003

Stacker Base Module with LTE Stacker Module (combined)

Stacker Base Module

LTE Stacker Module

Stacker Base Module

Stacker Base Module, LTE Stacker Module, Mase and Stacker combined

Base Module with LTE Stacker Module (combined)

Stacker Module

Base Module, LTE Stacker Module, Mase and Stacker combined

30-2022-0011328

Stacker Base Module, LTE Stacker Module, Mase and Stacker combined

Base Module, LTE Stacker Module, Mase and Stacker combined

30-2023-0010640

Stacker Base Module, LTE Stacker Module, Mase and Stacker combined

Base Module, LTE Stacker Module, Mase and Stacker combined

30-2023-0010641

Stacker Base Module

MX/f/2022/000838

LTE Stacker Module

Stacker Base Module with LTE Stacker Module combined

Stacker Base Module with LTE Stacker Module (combined)

Stacker Module

Base Module with LTE Stacker Module combined

Base Module with LTE Stacker Module (combined)

data management

Manufacturing

4 unchanged sentences

focus of the Company’s research and development activities include (i) the use of AI to optimize network and applications distribution

and performance at the edge, (ii) support for elastic scaling and dynamic cloud to edge orchestration, (iii) real time radio and mesh

tuning, (iv) partial and full air-gapped deployment between the public cloud and the edge, (v) optimized AI model execution across devices,

the Veea Edge Platform and the cloud and (vi) fully integrated online ordering, fulfillment and activation to support large scale, hierarchical

distribution partners.

and performance at the edge, (ii) support for elastic scaling and dynamic cloud to edge orchestration, (iii) partial and full air-gapped

deployment between the public cloud and the edge, and (iv) optimized AI model execution across devices, the VeeaONE platform and the

are headquartered in New York City, New York.

We have engineering offices in Iselin, New Jersey;

Bath, United Kingdom;

and Juvigny, France.

We have engineering offices in San Diego, CA, Bath, United Kingdom, and Juvigny, France.

We also maintain sales and marketing offices in Paris, France and Mexico City, Mexico.

8 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business