Veea Inc. and NovaGen Group B.V. announce potential merger and US$10 million investment for Edge AI Health Platform
Veea Inc. and NovaGen Group B.V. have signed a term sheet for a potential business combination, aiming to create a Nasdaq-listed longevity and precision-health platform, with GeoNova Capital committing an initial US$10 million investment.
What happened
Veea Inc., a provider of AI-powered edge infrastructure, and NovaGen Group B.V., a company focused on personalized regenerative medicine and longevity, have announced the signing of a term sheet for a potential business combination. The objective is to establish a Nasdaq-listed platform dedicated to longevity and precision health, while Veea continues its existing edge AI infrastructure operations.
In conjunction with this proposed combination, the companies have also agreed to launch NovaGen Health Networks, a connected health platform. This new platform will integrate Veea's edge computing, connectivity, and cybersecurity capabilities with NovaGen's cellular reprogramming science and clinical services. Initial deployments are planned for NovaGen clinics and partner hospitals in the fourth quarter of 2026.
The numbers
GeoNova Capital has committed an initial US$10 million investment in the combined entity, signing a term sheet as a cornerstone institutional investor. Management estimates the value of the combined company to be approximately US$750 million, based on internal projections and an independent valuation.
Who's behind it
Veea Inc., founded in 2014 and headquartered in New York City, specialises in edge solutions and infrastructure, enabling enterprises and public sector organisations to deploy AI-powered applications at the edge. Allen Salmasi serves as Chairman and CEO of Veea. NovaGen Group B.V. focuses on personalized regenerative medicine and longevity, utilising ARC Prometheus cellular reprogramming and rejuvenation technology.
Diederik van der Reijt is the CEO of NovaGen Group. GeoNova Capital, based in the UAE, is an investment and capital-markets firm, acting as corporate adviser and cornerstone institutional investor for NovaGen. Robert Hamilton is the Managing Partner, Capital Markets, at GeoNova Capital.
Why it matters
This potential merger aims to leverage edge AI to create a comprehensive global health platform that prioritises patient control over personal data. The NovaGen Health Networks platform is designed to connect health records, wearable data, and biological measurements into a patient-controlled longitudinal health profile, supporting agentic AI applications close to the patient.
The initiative seeks to extend NovaGen's reach to individuals earlier in their health journey, facilitating the identification and evaluation of candidates for regenerative therapies. The platform's design emphasises data sovereignty and privacy, with health records encrypted at source and patient-directed permissions governing access, supported by Veea's robust cybersecurity architecture.
What to watch
The business combination and GeoNova Capital's investment are contingent on the negotiation and execution of definitive documentation and the satisfaction of closing conditions. The companies anticipate executing a definitive business combination agreement within the coming weeks.
The rollout of NovaGen Health Networks will occur in two phases, with Phase 1, focused on connecting people, data, and care, scheduled to begin in Q4 2026. Phase 2 will expand to clinician-supervised diagnostics and therapy pathways, pending clinical validation and regulatory authorisations.
AI-assisted reporting. This story was drafted with AI assistance from the sources listed above and reviewed against our editorial rules before publication. Facts carry source provenance. Figures, investors, founders and quotations are never generated — if a detail is not in a source, it is not published.
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