Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 195

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 195
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 beginning after December 15, 2024. Early adoption
is permitted. We are currently evaluating the impact of this accounting standard update on our consolidated financial statements.

<div align='center'>F-18

Veea Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Years Ended December 31, 2023 and 2022</div>

4 - BALANCE SHEET COMPONENTS

Inventory

Inventory consists of the
following:

|                     |     | As of December 31, |       2023 |   |     |   |      2022 |   |
|:--------------------|:----|:-------------------|-----------:|:--|:----|:--|----------:|:--|
| Inventory           |     | $                  |  7,392,919 |   |     | $ | 7,315,754 |   |
| Inventory allowance |     |                    | (1,145,548 | ) |     |   |  (825,213 | ) |
| Consigned parts     |     |                    |  1,128,250 |   |     |   | 1,057,433 |   |
| Total               |     | $                  |  7,375,621 |   |     | $ | 7,547,974 |   |

Property and Equipment, net

Property and equipment,
net, consist of the following:

|                                    |     | As of December 31, |      2023 |   |     |   |      2022 |   |
|:-----------------------------------|:----|:-------------------|----------:|:--|:----|:--|----------:|:--|
| Furniture and fixtures             |     | $                  |   683,994 |   |     | $ |   664,943 |   |
| Computer equipment                 |     |                    |   300,526 |   |     |   |   294,536 |   |
| Leasehold improvements             |     |                    |   390,742 |   |     |   |   390,742 |   |
| Total property and equipment gross |     |                    | 1,375,262 |   |     |   | 1,350,221 |   |
| Less - Accumulated depreciation    |     |                    |  (998,595 | ) |     |   |  (772,952 | ) |
| Total