Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 122

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 122
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The VeeaONE platform offers
a complement, and in some cases 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. Benefits of the VeeaONE platform
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.

leading technology, telecom,
Veea earns revenue primarily from the sale of its VeeaHub® devices, licenses and subscriptions.

Recent Developments

Asset Purchase Transaction with Crowdkeep, Inc.

Asset Purchase Agreement

On May 13, 2025, the Company
entered into an Asset Purchase Agreement (the “APA”) with Crowdkeep, Inc., a Delaware corporation (the “Seller”),
pursuant to which, subject to the terms and conditions set forth in the APA, the Company acquired, upon the closing (the “Crowdkeep Closing”, and the date of such Crowdkeep Closing, the “Crowdkeep Closing Date”) certain assets
of Seller relating to Seller’s IoT technology platform business (collectively, the “Crowdkeep Assets”),
free and clear of any liens other than certain specified liabilities of Seller that are being assumed (collectively, the “Crowdkeep Liabilities” and such acquisition of the Crowdkeep Assets and assumption of the Crowdkeep Liabilities together, the “Crowdkeep Transaction”) in consideration for the issuance to the Seller of 4,065,689 shares of common stock (the “Crowdkeep Purchase Price”).

The APA contains other customary
representations, warranties and covenants of the parties.

Note Purchase Agreements and Convertible Promissory Notes

On April 17, 2025, and May
13, 2025, the Company and the majority stockholder of the Seller (“Crowdkeep Investor”), entered into two Note
Purchase Agreements (the “Crowdkeep Note Purchase Agreements”). Pursuant to the Crowdkeep Note Purchase Agreements,
the Crowdkeep Investor loaned to the Company an aggregate of $1,000,000 in two tranches (the “Crowdkeep Loans”),
of which $500,000 was provided on April 17, 2025 and $500,000 was provided on May 13, 2025. In connection