Good morning, tech enthusiasts. California startup Varda Space just landed $187M to make drugs in orbit, betting that microgravity will spark pharmaceutical breakthroughs Earth can’t match.

With space labs and reentry capsules, they’re pushing biotech beyond the stratosphere. Is this the dawn of space-age pharma — or just science fiction with funding?

In today’s tech rundown:

• Varda snags $187M to make drugs in space

• YouTube cracks down on AI videos

• Samsung to roll out triple-folding phone

• Math AI startup lands $100M

• Quick hits on other major tech news

LATEST DEVELOPMENTS

VARDA SPACE

💊 Varda snags $187M to make drugs in space

Image source: Varda Space

The Rundown: Varda Space, a California-based startup, just nabbed $187M in Series C funding to pioneer pharmaceutical manufacturing in microgravity — enabling the creation of drugs impossible to produce under Earth’s gravitational constraints.

The details:

• Varda aims to launch automated space factories in low Earth orbit to manufacture pharmaceuticals, then return them to Earth in reentry capsules.

• In space, the absence of gravity allows for purer crystal formation and novel chemical reactions, which can lead to more innovative drug compounds.

• Varda will use its new funding to build a 10K-square-foot California lab, where scientists will identify the best compounds for space-based crystallization.

• Varda has successfully completed three space missions since 2023 and expects to launch four more this year.

Why it matters: Varda, alongside rivals like SpacePharma and Redwire, is turning space into biotech’s next battleground, where microgravity could unlock breakthrough drugs, accelerate development, and spark a new wave of industry-defining IP. And, with the backing of Peter Thiel and Khosla Ventures, its promise carries serious weight.

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YOUTUBE

🗑️ YouTube cracks down on AI videos

Image source: Ideogram/The Rundown

The Rundown: As generative algorithms churn out endless streams of low-effort, mass-produced videos, YouTube is about to overhaul its monetization policies to combat the glut of inauthentic content.

The details:

• YouTube will tighten monetization rules on July 15, defining authentic content and cracking down on mass-produced or repetitive uploads.

• The crackdown targets not just fully AI-generated videos, but also channels that rely on uploading minor variations or mashups of the same video.

• To enforce the new rules, YouTube is likely to use a combination of automated detection systems and human review to identify and flag suspect content.

• While the full policy text hasn’t been published yet, YouTube says that creators have always been expected to produce “original” and “authentic” content.

Why it matters: YouTube is cracking down on the flood of low-effort, AI-generated videos that threaten to erode the platform’s value. The rise of algorithmic content farms has made formulaic, machine-stitched videos the norm, and YouTube is moving to protect its ecosystem before creativity gets drowned out by digital noise.

SAMSUNG

📱 Samsung to roll out triple-folding phone

Image source: Samsung

The Rundown: Samsung’s long-rumored triple-screen foldable, dubbed the Galaxy G Fold, is no longer just a fever dream of Android fans. Samsung’s mobile chief just confirmed that it’s on track for a late-2025 debut.

The details:

• The device will feature a G-shaped inward-folding architecture that cocoons its expansive 10-inch OLED display between two robust hinges.

• Leaks indicate a titanium-aluminum frame, a Snapdragon 8 Elite-class chipset, and a triple-camera array headlined by a 200MP sensor.

• The foldable will go into production in September and launch as a limited release in China and Korea to gauge consumer demand.

• Samsung just launched three new foldable smartphones at its Galaxy Unpacked 2025 event, including the $900 Galaxy Z Flip FE.

Why it matters: Samsung is betting big — and cautiously — on the $3K Galaxy G Fold, launching it as a controlled experiment to see if consumers are ready for a radical phone-tablet hybrid. If the gamble pays off, Samsung won’t just lead the foldable race, it will redefine mobile multitasking and set a new standard for device innovation.

HARMONIC

🧮 Math AI startup lands $100M

Image source: TechCrunch/Wikimedia Commons

The Rundown: Harmonic AI, the Palo Alto-based startup co-founded by Robinhood CEO Vlad Tenev, just landed $100M in funding at a $875M valuation to tackle a problem that has often stumped AI models: Math.

The details:

• The startup builds AI systems capable of rigorous mathematical reasoning, addressing a major weakness in current large language models.

• Bloomberg reports that Tenev said he intentionally stayed just below the $1B “unicorn” threshold, stating, “You never want to take the highest offer.”

• The company’s lead product, Aristotle, is designed to produce verifiable, step-by-step mathematical proofs, aiming to set a new benchmark for reliability.

• The startup’s mission is to build Mathematical Superintelligence, the next-gen of AI rooted in math.

Why it matters: CEO Tudor Achim, formerly of Helm AI, is now steering the company’s AI into blockchain security, aerospace, and finance, where mistakes can have severe consequences. The startup also aspires to achieve math problem-solving at a level beyond human capability, unlocking breakthroughs in physics and engineering.

QUICK HITS

📰 Everything else in tech today

U.K.-based fintech darling Revolut is seeking a $65B valuation, a year after raising at $45B, making it one of Europe’s most valuable tech companies.

AI startup Perplexity just launched its own web browser, Comet, initially available to users who subscribe to its $200-per-month Perplexity Max plan.

French AI startup Mistral is reportedly in talks to raise as much as $1B, with Abu Dhabi fund MGX cited as an investor.

Tesla applied to test and operate its robotaxis in Phoenix, Arizona, following its pilot test in Austin — and matching the footsteps of its rival Waymo.

X CEO Linda Yaccarino announced that she is leaving the social media platform after just two years.

Elon Musk’s xAI released its latest flagship AI model, Grok 4, alongside a $300-per-month AI subscription plan dubbed SuperGrok Heavy.

Microsoft exec Judson Althoff reportedly said in a meeting that AI helped Microsoft save more than $500M last year.

Amazon launched a 10-minute delivery service in New Delhi to compete directly with quick commerce rivals Blinkit, Flipkart, Zepto, BigBasket, and Instamart.

SpaceX is reportedly selling $1B in shares, which would boost its valuation to $400B, according to Bloomberg.

Dubai is opening a new restaurant operated by an AI chef, dubbed Chef Aiman, whose menu will be assembled by human staff.

Sun Valley is hosting the ultra-exclusive Allen & Company conference, where tech, media, and finance moguls gather for the so-called “billionaires’ summer camp.”

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Rowan, Jennifer, and Joey—The Rundown’s editorial team