Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 18

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 18
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 Zigbee, Thread and Matter, and networking/application mesh along with optional modules supporting Non-Volatile Memory Express (NVMe) with 2 TB of persistent storage and Power-over-Ethernet (POE) with 10 GbE interface. VeeaCloud provides for multi-tenant cloud-based management of STAX and STAX-5G devices and applications. With a high level of integration through a single PCBA implementation, it substantially reduces the production time and costs. Novel stackable mechanical design offers the opportunity for a wide range of other accessories (e.g., smart speakers).

4 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 in late 2024 with the MNO Partner. The MNO Partner soft-launched the SecureConnect services in its coverage areas in 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-5G products are also going through the homologation and certification process with a major ISP. STAX-5G is also being evaluated by other network operators and we expect to initiate homologation and carrier certification with those operators. The Serviceable and Obtainable Market (SOM) is a large percentage of TAM given the cybersecurity challenges faced by the SMBs/SMEs in the target markets.