Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 178

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 178
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 Statements of Cash Flows                                                     |     | F-71 |
| Notes                                                                        
 to Consolidated Financial Statements                                         |     | F-72 |

<div align='center'>F-1

Report of Independent Registered Public Accounting Firm</div>

To the Stockholders and the Board of Directors
of Veea Inc.

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated balance
sheets of Veea Inc. and Subsidiaries (the “Company”) as of December 31, 2023 and 2022, and the related consolidated statements
of operations, comprehensive loss, stockholder’s equity (deficit), and cash flows for each of the two years in the period ended
December 31, 2023, and the related notes (collectively referred to as the “consolidated financial statements”). In our
opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31,
2023 and 2022, and the results of its operations and its cash flows for each of the two years in the period ended December 31,
2023, in conformity with accounting principles generally accepted in the United States of America.

Emphasis of Matter - Revenue Concentration

Approximately 99% of the Company’s 2023 revenue
is derived from one customer. Our opinion is not modified with respect to this matter.

Basis for Opinion

These consolidated financial
statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s
consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight
Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the
U.S. federal securities laws and the applicable rules and regulations of and the PCAOB.

We conducted our audits in accordance with the auditing
standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free
of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit
of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control
over financial reporting but not for the purpose of expressing an opinion on