Shashank Bijapur and Madhav Bhagat met in New York and bonded over contracts; while they were a matter of interest for Shashank, Madhav saw them as a pain point having seen his businessman father deal with drafting them. The two started SpotDraft, an Artificial Intelligence-based contract management and creation system, that provides users with lawyer-vetted templates that can be filled out in less than a minute. Once a contract is created, the platform automatically creates invoices, payment reminders, and tracks payments as they become due.
The Indian real estate sector is one of the largest contributors to the country’s GDP and is considered to be the second-largest employer, providing livelihood to a whopping 52 million people. Of late, the real estate industry has been ad0pting cutting-edge technologies such as Machine Learning, Artificial Intelligence and others. It is thus not surprising to see the sector witnessing a new breed of Real-Tech startups that are changing age-old industry practices.