Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 187

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 187
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| United States     |     | $                        |    52,133 |     | $ | 175,327 |
| Republic of Korea |     |                          |    13,878 |     |   |  34,362 |
| Rest of the world |     |                          | 9,006,119 |     |   |  14,363 |
| Total revenue     |     | $                        | 9,072,130 |     | $ | 224,052 |

Warranties

The Company accrues the
estimated cost of product warranties at the time of recognizing revenue. The Company’s standard product warranty terms generally
include post-sales support and repairs or replacement of a product at no additional charge for a specified period of time. The Company
actively monitors and evaluates the quality of its component suppliers. The estimated warranty obligation is based on contractual warranty
terms, repair costs, and the Company’s baseline experience. The Company’s standard warranty terms are twelve months.
Warranty expense was not significant for the years ended December 31, 2023 and December 31, 2022.

<div align='center'>F-13

Veea Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Years Ended December 31, 2023 and 2022</div>

3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(cont.)

Accounts Receivable

Trade accounts receivable
are recognized and carried at billed amounts less an allowance for credit losses. The Company adopted the Current Expected Credit Losses
(“CECL”) guidance effective January 1, 2023. The Company maintains the allowance for estimated losses resulting from
the inability of the Company’s customers to make required payments. The allowance represents the current estimate of lifetime expected
credit losses over the remaining duration of existing accounts receivable considering current market conditions and supportable forecasts
when appropriate. The estimate is a result of the Company’s ongoing evaluation of collectability, customer creditworthiness, historical
levels of credit losses, and future expectations. Credit loss expense and allowance for credit losses were not significant as of, and
for the years ended, December 31, 2023 and December 31, 2022.

Inventory

The Company values inventory
at the lower of cost or net realizable value. Cost is computed using standard cost which approximates actual cost on a first-in, first-out
basis. At each reporting period, the Company assesses the value of its inventory