Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
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Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
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ITEM
1. BUSINESS.

Overview

We were originally incorporated
under the name “Plum Acquisition Corp. I.” as a blank check company incorporated as a Cayman Islands exempted company and
formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination
with one or more businesses. As discussed in this Annual Report, we completed the Business Combination on September 13, 2024 and changed
our name to “Veea Inc.”

We are dedicated to simplifying
the journey towards creating a world in which virtually everyone and everything is intelligently connected , while bringing applications
and AI to the edge of the network. Most service providers, equipment suppliers, system integrators and even hyperscalers have adopted
or advocated for similar solutions to various degrees either independently or in collaboration with the Company. However, to our knowledge,
we are the first to market with patented technologies that a) bring virtualized data center capabilities to the far edge of the network,
commonly referred to as the Device Edge, where all wired and wireless devices connect to the network (the “Edge”), b) spawns
hyperconvergence of computing, multiaccess communications and storage, (“Edge Computing”) c) provides for Cloud-managed applications
at the Edge (“Hybrid Edge-Cloud Computing”), d) enables machine learning with AI training, inferencing, and Agentic AI at
the Edge (“Edge AI”) including AI-driven cybersecurity for heterogenous networks. Such networks have given rise through
any combination of our developed devices and third-party devices, with CPUs, GPUs, TPUs, DPUs and/or NPUs, that run on the Veea Edge Platform’s
software stack (“VeeaWare”).

Veea has developed several generations
of highly integrated all-in-one devices that incorporate a Linux server, with a virtualized software environment, supporting our patented
secured docker containers, together with a Wi-Fi Access Point (AP) with a mesh router, a firewall, an IoT gateway, NVMe data storage and
4G/5G modules referred to as the “VeeaHub” product. With an extensive patent portfolio of 125 granted patents and 25 pending
patent applications that cover 26 patent families, our end-to-end Hybrid Edge-Cloud Computing platform represents a new product category
that has the potential for wide scale customer adoption in large segments of consumer and enterprise markets.

Veea Edge Platform’s products,
applications, and services with a distributed computing architecture,