AI-powered legaltech SpotDraft raises $8 million strategic extension…

Team S · 2026-01-28T14:20:08.000Z

SpotDraft, a Bengaluru- and New York-based legal technology startup focused on on-device AI for contract review and automation, has secured $8 million in a strategic Series B extension led by Qualcomm Ventures to scale its privacy-first contract AI platform across regulated enterprise sectors. The new investment which nearly doubles SpotDraft’s valuation to an estimated ~$380 million underscores growing demand for secure, offline AI systems that keep sensitive contract data on local devices rather than sending it to the cloud. The additional capital will be used to deepen product and AI capabilities, expand enterprise adoption in key markets including the Americas, Europe, Middle East & Africa (EMEA), and India, and accelerate on-device deployment of SpotDraft’s VerifAI workflow. The funding comes as enterprise customers increasingly prioritise data privacy, security, and compliance particularly in legal, defence, and highly regulated industries where cloud-based AI adoption has been slowed by confidentiality concerns. SpotDraft’s VerifAI has been showcased running fully offline on Qualcomm’s Snapdragon X Elite-powered laptops, enabling contract review, risk scoring, and redlining directly within familiar tools like Microsoft Word without transmitting documents externally, while still supporting online login and collaboration functions.

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AI-powered legaltech SpotDraft raises $8 million strategic extension… | Newnex