Latest news with #IVP
Time of India
8 hours ago
- Politics
- Time of India
Standing Committee Finally Takes Shape
New Delhi: After a long wait, the formation process of the standing committee in Municipal Corporation of Delhi gained clarity on Monday following the elections to two of its seats on Monday. While Rafia Mahir, an AAP councillor from Bazar Sitaram, won a standing committee member seat from City-Sadar Paharganj, Jagmohan Mehlawat, a BJP councillor from Vasant Kunj, won the election from South zone. The 18-member committee now has 17 elected representatives, with BJP holding 10 seats and AAP securing seven. The final member's election is scheduled during Tuesday's house meeting. BJP's councillor from Gautampuri and former mayor in the erstwhile east corporation, Satya Sharma, and AAP councillor from Jaitpur, Hema, filed nomination papers for the post. BJP, already having secured a majority, is well-positioned to have its candidate elected as the standing committee chairman on June 12. The formation of the standing committee has been pending for two and a half years for various reasons. "A proposal for the constitution of the standing committee on June 12 will be tabled in the house meeting on Tuesday... We will focus on improving healthcare, education, etc," said mayor Raja Iqbal Singh. Several development projects over Rs 5 crore are waiting for the committee's nod. They include finalising an agency for door-to-door garbage collection in central and west zones, opening a dog park, engaging a new toll tax operator, and Shahjahanabad Interpretation Centre. The works for finalising the layout plan for projects belonging to various agencies are also pending. BJP demonstrated its strength in the MCD ward committee elections on Monday by securing the chairman positions in eight wards: Central, South, Shahdara North, Keshavpuram, Civil Lines, Narela and Najafgarh. AAP claimed the chairman's post in four zones: City-Sadar Paharganj, Karol Bagh, West and Rohini. The results were disappointing for the newly formed Indraprastha Vikas Party (IVP), which contested for the chairman's posts in West and Rohini, and lost in both. Despite joining hands with BJP and having a majority in Rohini, it lost due to cross-voting. AAP councillor Amrit Jain got 11 votes while IVP got 10, despite the fact that IVP and BJP together had 11 members and AAP 10. In the same zone, BJP's Narendra Kumar Singh, who fought for the deputy chairman's seat, received 11 votes and won by one vote. Congress' two councillors boycotted the election. In West zone, there were 25 members (councillors), including 13 from AAP and 12 for the combined BJP-IVP. But in the election, AAP's Nirmal Kumari managed to get 14 votes and IVP only 11. IVP's Mukesh Goel accepted that cross-voting happened. "But we are not losing hope. The party was formed barely last month on May 17 and still contested and performed well," he said. AAP Delhi convener Saurabh Bharadwaj posted on X, "In MCD, AAP has secured victories in four zones. Despite 15 councillors leaving the party to form a new faction with BJP's support, we have maintained control over four out of five zones. I am very proud to share that those who left AAP... and openly received BJP's support in the zone elections failed to win in any zone." South zone witnessed cross-voting, too, resulting in BJP's victory despite AAP holding a majority. Umed Singh of BJP managed to get 10 votes, AAP's Sheetal Chaudhary eight, and one vote was invalid. Delhi BJP president Virendra Sachdeva said that winning the chairmanship in eight zones, along with an additional victory in the standing committee election and the deputy chairman's seat in Rohini, clearly reflected the growing dissatisfaction among AAP's councillors towards the party leadership. "The results have clearly established that AAP is a disintegrating party. Even its elected representatives and party office bearers are drifting away," said Sachdeva. Denying any cross-voting, leader of the opposition Ankush Narag said, "We fought for the people's interests and will continue to do so."
Business Standard
15-05-2025
- Business
- Business Standard
IVP standalone net profit declines 19.20% in the March 2025 quarter
Sales rise 5.01% to Rs 149.36 crore Net profit of IVP declined 19.20% to Rs 3.83 crore in the quarter ended March 2025 as against Rs 4.74 crore during the previous quarter ended March 2024. Sales rose 5.01% to Rs 149.36 crore in the quarter ended March 2025 as against Rs 142.23 crore during the previous quarter ended March 2024. For the full year,net profit declined 7.90% to Rs 11.31 crore in the year ended March 2025 as against Rs 12.28 crore during the previous year ended March 2024. Sales declined 1.30% to Rs 538.99 crore in the year ended March 2025 as against Rs 546.10 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 149.36142.23 5 538.99546.10 -1 OPM % 5.206.21 - 4.685.10 - PBDT 6.617.81 -15 20.9922.17 -5 PBT 5.156.41 -20 15.2616.63 -8 NP 3.834.74 -19 11.3112.28 -8
CNBC
30-04-2025
- Business
- CNBC
Watch CNBC's full interview with Perplexity board members Cack Wilhelm and Pete Sonsini
In an extended conversation, CNBC's Kate Rooney sits down with IVP general partner Cack Wilhelm and Laude Ventures partner and co-founder Pete Sonsini. The two investors discuss where they're finding opportunity in AI and beyond, as well as how tariffs are impacting their portfolio companies. Wilhelm and Sonsini both sit on the board on AI engine Perplexity; they've bet on the technology as well as the startup's co-founder and CEO Aravind Srinivas, who for them, is an example of how this generation of founders is different from the cohort that came before.
The Hindu
30-04-2025
- Business
- The Hindu
Chennai-based Vividobots raises ₹1.47 crore to develop robots for construction industry
Chennai-headquartered Vividobots, a robotic automation startup, has raised ₹1.47 crore in a seed round led by Inflection Point Ventures. The funds will be utilised to enhance product innovation and expand vertical-specific robotic deployments. Founded in 2021 by postgraduate engineers Dhinesh B. (Chief Executive Officer), Velmurugan B. (Chief Product Officer), and Kesavaraj S. (Chief Technology Officer), Vividobots was born out of a tragic incident involving a painter's fall. This moment of vulnerability inspired the trio to innovate for real-world impact. With backgrounds at Flipkart, Air Defence Agency, and TCS, respectively, the founders wanted to cater to the construction sector, which is booming. 'During our college days, an incident occurred wherein a painter slipped and fell from the first floor. It was a minor accident. However, this incident sparked an idea that became the foundation for our final-year project. Today, we've turned that idea into a thriving startup. We are developing robots specifically designed for exterior tasks, particularly for high-rise buildings. These robots can be used for painting and facade cleaning,' Mr. Dhinesh told The Hindu. 'We are also exploring plastering applications. Currently, we have a prototype, and this funding will be used to further develop the product,' he added. Mr. Dhinesh further said: 'We are targeting the construction sector, where our robots will help reduce both costs and construction time. Initially, we are looking at servicing model where we will rent out the robots.' The team has also filed for a patent for their product. Currently, the startup is operational in Chennai, with plans to scale into other metros where real estate growth and vertical maintenance are surging. The startup's robotic systems deliver up to 70% time savings, 50% cost reduction, and 15% lower material wastage. The Indian market for painting and cleaning services is estimated at $4.46 billion Serviceable Obtainable Market (SOM), with a total addressable market (TAM) of $178.7 billion. Globally, the SOM is $ 45 billion, with a projected TAM of $1.56 trillion, showing the immense opportunity for automation in this sector. According to Mr. Dhinesh, the startup had received small funding earlier from Entrepreneurship Development Innovation Institute-Tamil Nadu (EDII-TN) funded through Innovation voucher program (IVP)-A in 2020-2022 (₹2.5 lakh) and IVP-B 2023-2024 (₹5 lakh). It also got funding from Startup India Seed fund scheme (SISFS) funded through Sathyabama-TBI (₹15 lakh) and ₹10 lakh from Nidhi Seed Support Scheme (Nidhi-SSS). Vikram Ramasubramanian, Partner and CIO, Inflection Point Ventures, said, 'As real estate in India continues to boom, high-rise buildings are becoming increasingly common and so are the challenges that come with maintaining them. Vividobots is tackling this head-on with innovative robotic solutions that make exterior maintenance of the building safer and more efficient.' Inflection Point Ventures (IPV) is an angel investing platform with over 23,500 CXOs, HNIs, and professionals. The firm supports new-age entrepreneurs by providing them with monetary and experiential capital and connecting them with a diverse group of investors.
Zawya
30-04-2025
- Business
- Zawya
DeepL launches Arabic Document Translation tool to support businesses across MENA
Dubai, UAE: DeepL, a leading global Language AI company, has introduced its Arabic Document Translation tool, designed to simplify document translation for businesses engaging with Arabic-speaking markets across MENA. This latest update helps bridge language barriers and boost efficiency by enabling accurate, context-aware document translations to and from Arabic across DeepL's supported languages including English, French, Turkish, Chinese, and Russian. What sets DeepL apart from its competitors is the ability to review and directly edit translations before downloading, giving users increased control over their documents. The tool supports popular file formats like Word, PDF, Outlook, and PowerPoint, while maintaining original layouts and fonts. Trusted by millions of users in 228 markets including MENA, DeepL continues to empower businesses to break down language barriers, expand into new markets, and foster unparalleled cross-border collaboration. About DeepL DeepL is on a mission to break down language barriers for businesses everywhere. Over 200,000 businesses and governments and millions of individuals across 228 global markets trust DeepL's Language AI platform for human-like translation in both written and spoken formats, as well as natural, improved writing. Designed with enterprise security in mind, companies around the world leverage DeepL's AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 1,000 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures. Media inquiries Kekst CNC: Sarah Shaikh, Concultant Email: DeepL@
