Shares of Veea Inc. (NASDAQ: VEEA), a pioneer in hyperconverged multiaccess edge computing, skyrocketed by a staggering 204.76% on Wednesday following the company's announcement of a strategic partnership with Crowdkeep, a leading Internet of Things (IoT) platform.

According to the announced partnership, Veea and Crowdkeep will integrate their respective technologies to offer an AI-enabled multiaccess edge computing platform with IoT capabilities, cloud management, and a range of industry-specific applications. The combined platform aims to provide comprehensive solutions for various sectors, including construction, education, healthcare, and logistics.

The partnership will leverage Crowdkeep's expertise in IoT asset, people, and condition tracking, combined with Veea's cutting-edge edge computing platform. The integrated solution will enable features such as automated attendance tracking, smart asset management, environmental monitoring, emergency response systems, and predictive maintenance, among others.