SpotDraft raises $8M from Qualcomm Ventures in extended Series B round to scale on-device AI for legal workflows

SpotDraft, an AI-powered contract lifecycle management (CLM) platform, on Tuesday raised $8 million from Qualcomm Ventures in an extended Series B round. The investment follows its February 2025 fundraise, where the startup raised $56 million, signalling growing enterprise interest in privacy-first, on-device AI for legal workflows.

SpotDraft will use the fresh capital to strengthen its product and AI capabilities and expand its enterprise footprint across the Americas, EMEA, and India. Beyond funding, the partnership reflects a broader technology collaboration between the two companies focused on edge AI.

The startup was recently featured at Qualcomm Technologies’ Snapdragon Summit 2025, where it demonstrated fully on-device contract review running on Snapdragon X Elite laptops—without requiring cloud connectivity. It highlighted how sensitive legal workflows can be executed locally, addressing long-standing concerns around data security and privacy in enterprise legal teams.

Founded by Shashank Bijapur and Madhav Bhagat, SpotDraft focuses on helping legal teams reduce contract turnaround times, scale operations, and demonstrate measurable business impact through AI-driven contract intelligence.

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“Legal teams handle some of the most sensitive business information, yet most AI tools still require sending that data to external cloud models,” said Co-founder and CEO Bijapur.

SpotDraft’s AI-powered contract review tool, VerifAI, runs entirely on-device, including tasks such as clause extraction, embeddings, risk scoring, and applying edits. While internet connectivity is required for login, sharing, and licensing, core contract review and analysis functions execute offline on local machines using Snapdragon processors.

“AI is driving a fundamental shift in how legal workflows are executed. SpotDraft’s ability to deploy proprietary models securely on-device using Snapdragon platforms represents a meaningful advancement for a privacy-critical industry,” said Quinn Li, Senior Vice President at Qualcomm Technologies and Global Head of Qualcomm Ventures.

According to Bhagat, Co-founder and CTO, the startup has deliberately split workloads between the device and the cloud. “Core contract understanding and recommendations run locally, while orchestration and large-scale analytics remain cloud-driven.” He added that optimisation for Qualcomm® Hexagon™ NPU enables low-latency performance without sacrificing accuracy.

The investment aligns with Qualcomm Ventures’ broader thesis that on-device AI will play a central role in the future of enterprise computing. It has previously backed AI infrastructure and application companies across sectors ranging from industrial automation to security operations.

SpotDraft has raised a total of $92 million to date from investors, including Vertex Growth Singapore, Trident Growth Partners, Xeed VC, Arkam Ventures, Prosus Ventures, and Qualcomm Ventures.

It reports strong operating momentum, with 100% year-over-year growth in customer acquisitions, a 173% increase in contract volumes, and nearly 50,000 monthly active users processing over one million contracts annually. Its customers include Apollo.io, Panasonic, Zeplin, and Whatfix.

Edited by Suman Singh

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