Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 298

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 298
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Service capability, empower
companies to capitalize on the transformative potential of Edge AI, where most of the data from smartphones, tablets, laptops, cameras,
sensors, and other devices is generated, with data privacy and sovereignty, reliability, low latency for real-time decisions, bandwidth
efficiency, scalability, and reduced costs compared to alternatives.

25

VeeaHub
products, about the size of a typical Wi-Fi Access Point, are offered in variety of forms with different capabilities for indoor and outdoor
coverage and are both locally- and cloud-managed. Veea Edge Platform architecture and business model, VeeaHubÒ
and third-party devices on Veea Edge Platform with Hybrid Edge-Cloud Computing
and AI-enabled applications and services resemble the Android OS platform architecture and business model for Android devices.

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 Veea Edge 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.

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

Recent Developments

Public Offering

On August 14, 2025, the Company closed a public
offering to purchase up to 9,189,096 shares of common stock and warrants to purchase up to 9,189,096 shares of common stock at a combined
offering price of $1.00 per share and accompanying warrant (the “Offering”). The Company received aggregate cash gross process
of approximately $6.0 million, before deducting placement agent fees and other offering expenses. The warrants have an exercise price
of $1.10 per share, are exercisable immediately and will expire five years from the original issuance date. Included in the aggregate
securities issued are 3,239,096 shares of common stock and accompanying warrants that were issued to NLabs in consideration and satisfaction
of the NLabs 2025 Notes. The Company intends to use the net proceeds from the Offering for investments in inventory and the Company’s
customer support infrastructure and for other working capital and general corporate purposes.

Supply Agreement

On
August 7, 2025,