Company Overview: Veea Inc.

Business Description

Veea Inc. is a technology company specializing in edge computing, networking, and AI-driven solutions for both consumer and enterprise markets. The company was originally incorporated as a Cayman Islands exempted company under the name “Plum Acquisition Corp. I.” and later completed a Business Combination on September 13, 2024, which resulted in a name change to Veea Inc.

Core Technologies and Offerings

• Hybrid Edge-Cloud Computing Platform: The flagship Veea Edge Platform integrates computing, storage, and multiaccess connectivity at the network's far edge, called the "Device Edge."
• VeeaHub Devices: All-in-one, compact hardware units (about the size of a Wi-Fi Access Point) combining:
  • Linux-based servers supporting virtualized, secure Docker containers
  • Wi-Fi Mesh Router and Access Point (AP)
  • IoT Gateway and IoT radios (Bluetooth, Zigbee/Thread, LoRaWAN)
  • Firewalls and NVMe Data Storage
  • Embedded 4G/5G modules
• VeeaWare Operating System: A portable, containerized OS supporting secure application deployment, management, and orchestration at the edge.
• VeeaCloud: Cloud-native management system for deploying and remotely managing edge hardware and applications, with APIs for integration and multi-tenant support.
• Edge AI and Analytics Framework: Combines networking, computing, and AI for real-time decision-making; supports federated learning and blockchain for data privacy.
• Key Applications and Solutions:
  • Fixed Wireless Broadband (supporting 5G CPE with MEC functionality)
  • Addressing digital divides in underserved communities via virtualized Wi-Fi ("vTBA")
  • Climate Smart Buildings with integrated control of HVAC, lighting, fire safety
  • Converged private wireless networks (Wi-Fi + 4G/5G) for industrial and enterprise environments
  • Smart retail solutions (e.g., AI-driven advertising, digital signage, smart shopping carts)
  • Smart farming and precision agriculture using LoRaWAN gateways
  • Security solutions including AI-driven cybersecurity and energy management systems

Market Focus

Veea targets high-growth segments including:

• Fixed-line and 5G Fixed Wireless Broadband Access
• Managed Wi-Fi services for unserved/underserved communities
• Climate-smart buildings and energy efficiency
• Converged private wireless networks for industrial, retail, and smart city applications

Competitive Strengths

• Exclusive patented technologies supporting virtualized data center capabilities at the network edge
• Integrated hardware and software hardware with security features
• Extensive patent portfolio: 125 granted patents and 25 pending across 26 patent families
• Modular, scalable VeeaHub devices with mesh networking (vMesh)
• Fully integrated platform supporting multiple connectivity standards and cloud software solutions
• Strong ecosystem integration with major cloud providers (Microsoft Azure, AWS)
• Recognized by Gartner as a Leading Smart Edge Platform (2023) and a Cool Vendor (2021)

Employees and Operations

• As of December 31, 2024:
  • Number of Employees: 45 full-time employees
• Facilities:
  • Headquarters: New York City, NY
  • Offices in Iselin, NJ; Bath, UK; Juvigny, France
  • Sales and marketing offices in Paris, France and Mexico City, Mexico
• Manufacturing relies on two contract manufacturers in Taiwan and China

Financials (as of latest data)

• Market Capitalization: Approximately $83.8 million as of the last business day of the most recently completed second fiscal quarter (June 28, 2024)
• Shares Outstanding: As of March 14, 2025 (specific number not provided; just noted that shares are outstanding)
• Revenue and Income: The company has not generated significant product sales and has incurred substantial losses in recent years. No specific revenue or net income figures are provided in the excerpt.

Summary

Veea Inc. develops and offers a comprehensive edge computing platform centered on secure, integrated hardware (VeeaHub), cloud management, and AI capabilities. The platform enables private and converged networks, edge AI applications, and IoT solutions across various industries including broadband access, smart buildings, retail, and agriculture, with a focus on underserved markets globally. The company’s patent portfolio, global presence, and recognition in edge computing position it as an innovative player in the emerging edge ecosystem.