India, Jan. 27 -- AI-driven enterprise tech startup SpotDraft has secured $8 Mn (about INR 73.4 Cr) from Qualcomm Ventures in its Series B extension round.

The startup plans to deploy the fresh funds to deepen its product and AI capabilities and expand its reach across the Americas, Europe, the Middle East, Africa and India.

Founded in 2017 by Shashank Bijapur, Madhav Bhagat and Rohith Salim, SpotDraft operates an AI-powered contract lifecycle management (CLM) platform that helps sales, legal and human resources teams manage multiple aspects of contracting, including AI-assisted redlining, e-signatures, third-party papers, clickwrap agreements, among others.

"Core contract understanding, guideline checks, and recommendations run locall...