QED Investors
US fintech-focused VC with a growing India book
QED Investors took part in 2 disclosed rounds in Indian startups in 2026 (1 as lead), most often Series B rounds in AI & Deep Tech; its latest was Flam on 14 September 2026.
About QED Investors
QED Investors is a US fintech venture firm that has expanded in India, where partners Sandeep Patil and Kshitij Jayakrishnan say the market is core to its strategy. Early Indian bets included Jupiter, OneCard (FPL Technologies), Upswing and Efficient Capital Labs.
Investment thesis
- Fintech only
- India a core long-term market
Sectors
Team
Deals in 2026
| Date | Company | Round | Amount | Role | Co-investors | Story |
|---|---|---|---|---|---|---|
| 14 September 2026 | FLFlam | Series B | $40M | Lead | Claypond Capital, Shah Rukh Khan | Story |
| 13 July 2026 | ONOneCard | Series D | ₹72 crore | Participant | Peak XV Partners, Z47, Hummingbird Ventures, Better Tomorrow Ventures, Temasek | Story |
Stage and sector mix
Disclosed rounds QED Investors took part in, by stage and by sector.
| Stage | 2026 | 2025 |
|---|---|---|
| Series B | 1 | 0 |
| Series D+ | 1 | 0 |
| Sector | 2026 | 2025 |
|---|---|---|
| AI & Deep Tech | 1 | 0 |
| Financial Services | 1 | 0 |
Frequent co-investors
| Investor | Rounds together |
|---|---|
| Better Tomorrow Ventures | 1 |
| Claypond Capital | 1 |
| Hummingbird Ventures | 1 |
| Peak XV Partners | 1 |
| Shah Rukh Khan | 1 |
| Temasek | 1 |
| Z47 | 1 |
Best bets in India
Indian portfolio
- ECEfficient Capital LabsFintech
- FLFlamAI & Deep Tech · in at Series B · 2026 · Led
- FT
FPL TechnologiesFintech
- HAHabittoFintech
- IPiPiDFintech
- JUJupiterFintech
- ONOneCardFinancial Services · in at Series D+ · 2026
- RERefyneFintech
- UPUpswingFintech
India-based companies only. Linked names have a StopDown page; the rest link up on their own as soon as we cover them.
QED Investors in the news
- FLFlam · Funding · 14 September 2026 · $40MFlam raises $40 million Series B for AI platformFlam builds an artificial intelligence platform that generates interactive digital media experiences for commercial clients worldwide
- ONOneCard · Funding · 13 July 2026 · ₹72 croreOneCard raises Rs 72 crore in Series D roundOneCard raised Rs 72 crore led by Peak XV Partners at a Rs 12,050 crore valuation
Read next: companies in the portfolio
Questions about QED Investors
How many investments did QED Investors make in India in 2026?
StopDown has recorded 2 disclosed rounds in Indian startups with QED Investors in 2026 so far, 1 of them as lead. The latest was Flam on 14 September 2026 ($40M).
Which sectors does QED Investors invest in?
In the 2025 and 2026 rounds StopDown recorded, QED Investors invested most often in AI & Deep Tech (1 round) and Financial Services (1 round). Its stated focus: Fintech.
Does QED Investors lead rounds?
Yes. StopDown's records name QED Investors as lead or co-lead in 1 of the 2 rounds it took part in during 2025 and 2026, 1 of them in 2026.
Sources: citybiz.co · yourstory.com · fintechfutures.com · checked 2026-10-18