Food and delivery logistics service Swiggy has raised $100m in a Series F round of investment from Naspers and Meituan-Dianping.

“Led by the global investment and media conglomerate, Naspers, with participation from the Chinese e-commerce company Meituan-Dianping, the investment is an indicator that the Indian technology market is hitting its stride,” reported TechCrunch.

Shardul Amarchand Mangaldas acted for Swiggy, led by Bangalore-based partner Siddharth Nair, and senior associate Asmita Mishra, and associate Shachi Singh.

Nishith Desai Associates represented Naspers, led by partners Vaibhav Parikh and Karan Kalra along with senior associate Aishwarya H, as well as associates Santosh Gangavati, Sanya Malhotra, Abhishek S and Ankit Porwal.

Chinese law firm Han Kun Law acted for Meituan-Dianping.

According to a press release from Shardul Amarchand, its private equity group acted for Swiggy, the promoters and certain existing investors, and was “involved in drafting, reviewing iterations of, and negotiating the share subscription agreement and shareholders’ agreement and assisting with closing and post-closing actions”.

Earlier investors in Swiggy included Harmony Partners, Accel Partners, Norwest Venture Partners, Bessemer Venture Partners and Softbank’s SAIF Partners, according to TechCrunch.

The deal was signed on 5 January and 19 January 2018, and closed on 31 January and 12 February.