Here are 1-3 brief analogies for Veea (VEEA):

• Like an **Apple HomePod or Google Nest Hub for businesses and smart cities**, providing integrated intelligence at the edge.
• **Cisco for localized smart infrastructure and edge computing**, focusing on connecting and empowering specific physical spaces like retail stores and public areas.
• Similar to **Square (for payments and POS), but for equipping physical spaces with smart IoT and edge technology** through an integrated platform.

• VeeaHubs: Integrated edge computing devices that combine mesh Wi-Fi, cellular, IoT gateways, and powerful processing to create a distributed edge network.
• Edge Computing Platform: A software platform that runs on VeeaHubs, enabling secure, real-time processing of data at the network edge and supporting various smart applications.
• Managed Edge-as-a-Service (Veea TaaS): A comprehensive service offering providing businesses with turnkey deployment and management of edge computing infrastructure, including hardware, software, and connectivity.

Veea (VEEA) Major Customers

Veea (VEEA) primarily sells its edge computing and communications solutions to other companies, specifically telecommunications carriers and large enterprises, which then deploy or offer Veea's technology to their own business customers. While Veea does not typically disclose specific revenue figures per customer, the following companies represent major strategic partners and customers based on publicly announced collaborations:

• AT&T (Symbol: T) - Veea has collaborated with AT&T to deliver edge-to-cloud solutions to enterprises.
• Orange S.A. (Symbol: ORA) - Veea has a strategic collaboration with Orange Business Services to provide enterprise edge solutions globally.
• T-Mobile US, Inc. (Symbol: TMUS) - Veea has been involved in initiatives related to T-Mobile's private network solutions for enterprises.
• e& enterprise (formerly Etisalat; Symbol: EAND) - Veea partnered with e& enterprise in the Middle East to bring its edge computing platform to the region.
• Axiata Digital Labs (subsidiary of Axiata Group Berhad; Symbol: AXIATA) - Veea partnered with Axiata Digital Labs to accelerate digital transformation for enterprises.

Allen Salmasi, Chairman, Chief Executive Officer & Founder

Prior to co-founding Veea in 2014, Mr. Salmasi was the Chairman, Chief Executive Officer, and President of NextWave Telecom Inc. and its spin-off, NextWave Wireless Inc.. NextWave Telecom was acquired by Verizon in 2005, and NextWave Wireless was acquired by AT&T in 2013. He also founded Omninet Corporation in 1984, which later merged with QUALCOMM in 1988. At QUALCOMM, he served as the first President of QCT (wireless business division), Chief Strategy Officer, and a member of the Board of Directors. Through his venture capital firm NLabs Inc., he invests in media, communications, computing, and biotechnology.

Randal Stephenson, Acting Chief Financial Officer

Mr. Stephenson serves as the Acting Chief Financial Officer of Veea. He was appointed to this position on July 15, 2025.

Michael Salmasi, CEO, Veea Solutions Inc., & Veea Inc. Co-Founder

Mr. Salmasi is a co-founder of Veea Inc. and currently serves as the CEO of Veea Solutions Inc., a wholly owned subsidiary of Veea. In his role, he focuses on delivering edge computing solutions to customers in sectors such as Smart Retail, Smart Buildings, and Smart Agriculture. He previously held positions at UBS Financial Services and holds an MBA from New York University Stern School of Business.

Mark Tubinis, Chief Commercial Officer

Mr. Tubinis has been the Chief Commercial Officer of Veea since 2020. He is a technology executive experienced in building and managing global product and services organizations, with expertise in virtualized and cloud-based fixed and mobile service delivery, including voice, video, data, and IoT. He previously served as Senior Vice President of SeaChange International and as Chairman of the Board of Airfusion, a private AI-driven data analytics company.

Helder Antunes, Acting Chief Revenue Officer & Director

Mr. Antunes serves as the Acting Chief Revenue Officer and a Director at Veea. He has been the Chief Executive Officer of Crowdkeep since 2022. With over 35 years of experience, he is recognized for his leadership in edge computing and IoT, having spent 20 years as an executive at Cisco, where he led initiatives in Connected Vehicles, Network Security, and Corporate Innovation.

The key risks to Veea (VEEA) are:

1. Significant Financial Challenges: Veea is experiencing substantial operating losses, high operating expenses, and currently has minimal sales. The company has a history of unprofitability, an accumulated deficit of $216.9 million as of Q3, and is burning cash in its operations. Its cash balance has significantly decreased, and it has negative shareholder equity. Furthermore, Veea has less than a year of cash runway based on its current free cash flow. The company also recently delayed a 10-Q filing due to the need for additional time to prepare financial statements and reported a significant drop in revenue. These factors indicate a severe financial risk, including a potential going concern risk.
2. Risk of Stock Dilution: Veea has existing obligations, such as earn-out liability agreements, that may require the issuance of additional shares. If these shares are issued without corresponding cash inflows, it could lead to significant stock dilution and a decrease in equity value. Shareholders have already experienced substantial dilution over the past year.
3. Intense Competition and Market Adoption Challenges: Veea operates in the rapidly growing edge computing market, which is characterized by intense competition from both established technology companies and other startups. While Veea offers innovative products, there is a risk that market demand for its solutions may not materialize or that adoption may not accelerate sufficiently. The company also faces technical challenges in maintaining performance and security across diverse edge environments, which could impact its ability to gain market share.

The aggressive expansion of major hyperscale cloud providers (such as Amazon Web Services with AWS Outposts and AWS Wavelength, Microsoft Azure with Azure Stack Edge, and Google Cloud with Google Distributed Cloud Edge) into the edge computing market presents a significant emerging threat. These cloud giants are leveraging their vast resources, existing customer bases, and integrated ecosystems to offer comprehensive edge hardware and software solutions, directly competing with dedicated edge platforms like Veea. Their ability to provide end-to-end cloud-to-edge solutions, coupled with extensive developer tools and enterprise relationships, could significantly challenge Veea's market position and growth trajectory.

Veea (VEEA) primarily operates within the rapidly expanding edge computing sector, offering a distributed edge computing platform that integrates hardware, software, and networking capabilities. Their main products and services, including VeeaHub, VeeaEdge software, VeeaConnect, Veea SecureConnect, Veea AirLynx, and Veea MetaLynx, all fall under the umbrella of edge computing, with a focus on areas like edge AI, IoT device management, and secure data analytics.

The addressable markets for Veea's main products and services are as follows:

• Global Edge Computing Market:
  • The global edge computing market was valued at approximately USD 18.3 billion in 2024 and is projected to reach USD 114.4 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 22.40% from 2025 to 2033.
  • Other estimates indicate the market was valued at USD 10.11 billion in 2023 and is projected to grow to USD 181.96 billion by 2032 with a CAGR of 38.2%. Another report estimated the market at USD 23.65 billion in 2024, with a projection to reach USD 327.79 billion by 2033, growing at a CAGR of 33.0% from 2025 to 2033.
  • The global edge computing market is estimated to be USD 168.40 billion in 2025 and is expected to reach USD 248.96 billion by 2030, with a CAGR of 8.1% from 2025 to 2030.
• North American Edge Computing Market:
  • North America held the largest share of the global edge computing market, accounting for over 38% in both 2023 and 2024. The U.S. market specifically dominated North America's share in 2024. Some research suggests North America represents almost 50% of the global revenue share.
• Global Smart Edge Devices Market:
  • The global smart edge devices market size is projected to be USD 13.5 billion in 2025 and is forecast to reach USD 37.6 billion by 2033, with a CAGR of 22.40%.
• Global Edge AI in Smart Devices Market:
  • The global Edge AI in Smart Devices market saw the Asia-Pacific region hold a dominant position in 2024, capturing over 34.8% of the market share with revenues reaching USD 9.5 billion.
  • The market for Edge AI in smart devices within China was valued at USD 3.63 billion in 2024, experiencing a strong CAGR of 28.2%.
• Global AIoT Smart Edge Computing Gateway Market:
  • This market was valued at USD 4.2 billion in 2023 and is projected to reach USD 15.8 billion by 2032, with a CAGR of 15.7% during the forecast period.

1. Expansion and Customer Acquisition in Key Vertical Markets: Veea is focusing on digital transformation opportunities in multiple vertical markets, including retail, manufacturing, hospitality, and public safety. Growth in securing new enterprise clients and expanding its footprint within these sectors is a key revenue driver.
2. Commercialization and Adoption of its Integrated Edge Computing and Communications Platform: Veea operates in the high-growth edge computing market, which is projected to grow at a significant CAGR through 2030. The company's unique offering of an integrated hardware and software platform for deploying and managing edge applications is anticipated to drive revenue as it transitions from development to widespread commercialization and customer adoption.
3. Leveraging High-Growth Edge Computing Market Trends: The broader edge computing market, Veea's primary operational area, is projected to experience substantial growth (estimated at a 36.9% CAGR from 2024 through 2030). Veea's ability to capitalize on the increasing demand for real-time data processing in IoT applications and AI integration across industries is a fundamental driver of future revenue.
4. Monetization of Innovative Products and Services: While current sales are minimal, Veea has promising products and innovations. Future revenue growth is expected to come from successfully converting these innovations into substantial and material sales, demonstrating the company's ability to transition from its early-stage financial challenges to commercial success.

Share Issuance

• Veea Inc. closed a public offering in August 2025, raising approximately $6.0 million in gross proceeds through the issuance of 9,189,096 shares of common stock and accompanying warrants.
• Concurrently with the August 2025 public offering, NLabs Inc., an affiliate of Veea's CEO, exchanged approximately $3.24 million in outstanding non-convertible promissory notes for 3,239,096 shares and accompanying warrants.
• In September 2024, Veea completed a business combination with Plum Acquisition Corp. I, which was accounted for as a reverse recapitalization, involving the issuance of stock by Plum for the stock of Private Veea.

Inbound Investments

• Veea (prior to its business combination as Private Veea) has raised a total of $40 million in funding over two rounds.
• The company's latest funding round was conventional debt in October 2023.
• In September 2024, alongside the business combination, Veea and Private Veea issued convertible notes under note purchase agreements to accredited investors.

Outbound Investments

• Veea has acquired Virtuosys.

Capital Expenditures

• For the fiscal year ended December 30, 2024, capital expenditures amounted to $265,000.
• Over the last 12 months, Veea's capital expenditures were approximately $14,286.
• The net proceeds from the August 2025 public offering are intended for investments in inventory and customer support infrastructure, as well as for working capital and general corporate purposes.