Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 180

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 180
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 reasonableness of the significant assumptions           
 by testing inventory costs based on historical third-party purchases. |

| ● | Evaluated the appropriateness of management’s methodologies                                                                                 
 used, as well as the significant assumptions and inputs, in developing their assessment of net realizable value and their estimated reserve 
 for inventory, by comparing significant assumptions used by management to historical information, independent calculations, evidence        
 obtained in other areas of the audit, recent selling prices and costs.                                                                      |

| ● | Tested the mathematical accuracy of the calculations performed                                  
 along with assessing the completeness and accuracy of the information used in the calculations. |

/s/ PKF O’Connor Davies, LLP

New York, New York
April 2, 2024, except for Note 17, as to which the date is May 8, 2024.

We have served as the Company’s auditor since August 8,
2023.

PCAOB ID No. 127

<div align='center'>* * * * *

F-3

Veea Inc. and Subsidiaries
Consolidated Balance Sheets
As of December 31, 2023 and 2022</div>

| ASSETS                                                                                                                                                                           
 Current Assets                                                                                                                                                                   |     | As of December 31, 
 2023               |              |   |     | 2022 |              |   |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-------------------|-------------:|:--|:----|:-----|-------------:|:--|
| Cash                                                                                                                                                                             |     | $                  |    6,010,075 |   |     | $    |      185,881 |   |
| Receivables                                                                                                                                                                      |     |                    |       52,838 |   |     |      |       24,995 |   |
| Inventory, net                                                                                                                                                                   |     |                    |    7,375,621 |   |     |      |    7,547,974 |   |
| Prepaid expenses and other current                                                                                                                                               
 assets                                                                                                                                                                           |     |                    |      513,670 |   |     |      |      124,886 |   |
| Total current assets                                                                                                                                                             |     |                    |   13,952,204 |   |     |      |    7,883,736 |   |
| Property and equipment, net                                                                                                                                                      |     |                    |      376,667 |   |     |      |      577,