Veea Completes Acquisition of Strategic Assets from Crowdkeep

CrowdKeep is a technology company specializing in enterprise Internet of Things (IoT) solutions designed to enhance workplace operations through real-time data insights. Crowdkeep integrates IoT gateways, Bluetooth 5, mesh technology, and Ubuntu (News - Alert) Core to collect actionable data, improving the speed and accuracy of key operations across various industries.

Veea has acquired, from CrowdKeep, an IoT platform engineered to provide organizations with real-time visibility into personnel, assets, and environmental conditions. By leveraging a combination of sensors and IoT gateways, the platform facilitates the monitoring of workplace dynamics, enabling swift, data-driven decision-making.

These key functionalities include:

• Personnel and asset tracking: Automated logging of arrival, departure, and location data through IoT gateways and wearables, enhancing accountability and productivity.
• Environmental monitoring: Real-time assessment of workplace conditions to ensure safety and compliance.
• Alarm and notification systems: Alerts for abnormal situations, such as overcrowding or assets moving beyond designated geofences.
• Dashboard analytics: Centralized information hub providing instant insights into workforce activity, asset status, and live weather conditions.

It also enables vertical industry applications

• Education: Enhancing safety and operational efficiency in schools and universities.
• Healthcare: Monitoring patient and equipment movement to improve care delivery.
• Hospitality: Streamlining operations in hotels and resorts.
• Manufacturing: Optimizing production workflows and equipment maintenance.
• Construction: Ensuring worker safety and efficient asset utilization.

Before edge compute, there was fog computing, which was started by Helder Attunes (the CEO of Crowdkeep). The architecture of Veea is close to the vision Helder has for edge computing.

In the transition of this deal, Helder Antunes, the former CEO of Crowdkeep, will join Veea's management team as Executive Vice President and Chief Revenue Officer.

"Joining Veea is a powerful opportunity to combine Crowdkeep's capabilities with Veea's edge intelligence delivering real-time insights, faster decisions, and enhanced safety through AI-powered predictive analytics," said Antunes.

Veea’s acquisition of Crowdkeep's technology is a strategic move aimed at integrating Crowdkeep's IoT platform with Veea's Edge Platform.

The integration will blend Veea’s edge AI technology with Crowdkeep's real-time data collection capabilities, enabling faster decision making by integrating the two companies’ solutions.  Through the acquisition, Crowdkeep says its mission to develop innovative solutions that transform workplace operations “will be accelerated.”

Under the terms of the agreement, Veea has acquired substantially all of the technology assets of Crowdkeep in exchange for shares of Veea's common stock and other considerations.