Top headlines: Swiggy becomes decacorn; Axis Bank's Q3 net profit surges

Business Standard brings you the top headlines on Monday

Swiggy becomes decacorn, valuation crosses $10.7 bn in new funding round

SoftBank-backed Swiggy doubled its valuation to $10.7 billion in its latest funding round, two people familiar with the matter said, as booming demand for quick delivery of food and grocery in India drives up investments in the sector.

The food-delivery firm said on Monday it had raised $700 million in the fundraise that was led by U.S. investment firm Invesco and also included Baron Capital Group, Sumeru Venture, IIFL and Kotak. Existing investors Alpha Wave Global and Qatar Investment Authority also took part in the round. Read more

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