Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 103

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 103
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 based on Veea’s AdEdgeÔ, inventory management, and other applications) to Veea as a share of the revenue collected by the service provider.

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For 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
a global MNO partner (the “MNO Partner”) since early 2024 and completed the homologation and carrier certification
process for STAX and STAX-5G by late 2024 with the MNO Partner, which then soft-launched the SecureConnect services in their coverage
areas as of March of this year. In May 2025, we signed a non-binding Strategic Commercial Alliance with the MNO Partner, outlining the
high-level principals of a strategic alliance between the parties towards a binding commercial agreement that has been drafted and pending
execution.

The soft-launch of SecureConnect
STAX-5G, with the MNO Partner at their enterprise customer locations, has been highly successful and has demonstrated a fully commercialized
product platform. The end-user feedback to the MNO Partner on the customer experience and quality of service has been very positive.
In working together with the MNO partner since earlier this year, the initial marketing campaign and sales plans in support of our Go
to Market plans have been largely developed. This includes the MNO Partner’s marketing webpage, customer support and fulfillment
portals, which are being trialed with the soft-launch customers. The MNO Partner’s end-user customer contract is typically for
2 years with a Monthly Recurring Revenue (“MRR”) paid to the MNO Partner, which is subject to revenue sharing
between the parties.

We have also initiated a
substantial POC with an affiliate of the MNO Partner in another county for deployments in another region. STAX and STAX