Legal-tech startup SpotDraft raises $8 Mn in Series B extension
SpotDraft secured $8 million in a Series B extension led by Qualcomm Ventures to enhance its AI capabilities and expand globally.Summary
Legal-tech startup SpotDraft has raised $8 million from Qualcomm Ventures as part of a Series B extension, following a $54 million Series B round in February 2025 and a $26 million Series A round in March 2023. The new funding will be used to strengthen the company’s product and AI capabilities, and to expand its enterprise adoption across the Americas, EMEA, and India. Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft offers an AI-powered contract lifecycle management (CLM) platform with a focus on privacy-first enterprise use cases, keeping sensitive data on-device.
The company reports 100% year-on-year customer growth and a 173% increase in contract volumes, currently serving nearly 50,000 monthly active users and processing over one million contracts annually. SpotDraft showcased its on-device contract review capabilities at Qualcomm’s Snapdragon Summit 2025, running AI models locally on Snapdragon X Elite laptops without cloud connectivity.
SpotDraft’s revenue grew to Rs 121.02 crore in FY25 from Rs 59.58 crore in FY24, but losses also widened to Rs 121.43 crore from Rs 68.36 crore during the same period. The company competes with other legaltech startups such as Legistify, Leegality, Sirion, and Vakilsearch, and its customers include Apollo.io, Panasonic, Zeplin, and Whatfix.
(Source：Entrackr)
