Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 215

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 215
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 |   |     |      | 1.2 years |   |
| Aggregate                                                              |     |                          | 1.2 years |   |     |      | 1.9 years |   |
| Weighted average discount rate-operating leases                        |     |                          |           |   |     |      |           |   |
| Other than related parties                                             |     |                          |      1.79 | % |     |      |      1.79 | % |
| Related parties                                                        |     |                          |     10.00 | % |     |      |     10.00 | % |
| Aggregate                                                              |     |                          |      3.07 | % |     |      |      5.29 | % |

<div align='center'>F-30

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

11 - COMMITMENTS AND CONTINGENCIES (cont.)

Operating lease liabilities
are based on the net present value of the remaining lease payments over the remaining lease term. In determining the net present value
of its lease payments, the Company used an estimated incremental borrowing rate that is applicable to the Company based on the information
available at the later of the lease commencement date, lease modification date, or the date of adoption of ASC 842. As of December 31,
2023, the maturities of the Company’s operating lease liabilities were as follows:

| Year                                    |     | Other than      
 related parties |         |   |     | Related 
 parties |        |   |     | Total |         |   |
|:----------------------------------------|:----|:----------------|--------:|:--|:----|:--------|-------:|:--|:----|:------|--------:|:--|
| 2024                                    |     | $               | 360,359 |   |     | $       | 88,800 |   |     | $     | 449,159 |   |
| 2025                                    |     |                 | 121,851 |   |     |         |      - |   |     |       | 121,851 |   |
| Total lease payments                    |     |                 | 482,210 |   |     |         | 88,800 |   |     |       | 571,010 |   |
| Less: imputed interest