SpotDraft Raises USD 8 Mn in Series B Extension from Qualcomm Ventures

Legal-tech startup SpotDraft has raised USD 8 million from Qualcomm Ventures as part of a Series B extension.

The funding comes nearly a year after the Bengaluru-based firm raised USD 54 million in its Series B round in February 2025. Earlier, in March 2023, SpotDraft had secured USD 26 million in Series A funding.

The latest capital will be used to strengthen the company’s product offerings and artificial intelligence capabilities, while also supporting expansion of enterprise adoption across the Americas, Europe, the Middle East, Africa and India.

Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft provides an AI-powered contract lifecycle management platform aimed at privacy-first enterprise use cases.

Its AI tools are designed to process contracts on-device, ensuring sensitive legal data is not sent to external cloud-based models. The firm recently showcased these on-device contract review capabilities at Qualcomm’s Snapdragon Summit 2025, where its AI models ran locally on Snapdragon X Elite laptops without cloud connectivity.

SpotDraft reported 100% year-on-year growth in its customer base, with contract volumes increasing 173% over the same period.

The Bengaluru-based platform currently serves close to 50,000 monthly active users and processes more than one million contracts each year. The startup competes with legaltech players such as Legistify, Leegality, Sirion and Vakilsearch and counts Apollo.io, Panasonic, Zeplin and Whatfix among its customers.

In FY25, SpotDraft’s revenue rose to INR 121.02 crore from INR 59.58 crore in FY24, while losses widened to INR 121.43 crore from INR 68.36 crore during the same period.