From Apple staff to Forbes 30-U-30 list — This young Indian-origin founder helps banks ensure financial compliance
Kalyani Ramadurgam, the Indian-origin co-founder of Kobalt Labs, along with former Affirm software engineer Ashi Agrawal, entered Forbes’ 2026 US 30 under 30 List in the financial sector.
Launched in 2023, Kobalt Labs uses machine learning (ML) and artificial intelligence (AI) models to scan “mountains of documents.” It helps banks vet business partners to ensure rules are being followed and security breaches are promptly disclosed, according to Forbes.
Who is Kalyani Ramadurgam?
Kalyani Ramadurgam, a former Apple employee, said her work with the consumer technology giant focused on preventing people on the terrorism watch list from using Apple Pay, Forbes reported. He added that while he was doing the job, he was “shocked that the orientation process was similar and tedious.”
Grievance processes involved ensuring the company complied with financial laws and regulations. “This meant reading not just hundreds but thousands of pages of documents. Organizations were just throwing bodies at the problem,” he told the publication.
Ramadurgam said that he and Agrawal founded Kobalt in 2023 with the aim of “bringing compatibility to the age of machine learning.”
What does Kalyani Ramadurgam’s Cobalt Laboratories do?
According to its Forbes profile, Kobalt uses artificial intelligence to help banks comb through large amounts of data and documents to vet business partners. It allows banks to ensure that these partners comply with financial rules and comply with laws, including disclosing security breaches, halting money transfers from sanctioned countries, and more.
It was stated that Ramadurgam’s company raised $13 million from more than 20 customers, including Celtic Bank and Bilt.
Forbes 30-Under 30 USA 2026: Complete list of achievers of Indian origin
In the US, Forbes’ 2026 30 Under 30 was published on December 2, 2025; This list includes successful people who have raised a total of $3.8 billion in funds. The average age is 27 and the youngest is 17.
