Distance Technologies develops a product that it says can turn any transparent surface into an augmented-reality display.
Distance Technologies
Distance Technologies, a Finnish startup that aims to bring mixed-reality technology to any car windshield or plane cockpit, has raised 10 million euros ($11.1 million) of funding from GV, the venture capital arm of Alphabet and other investors.
Distance raised the cash injection in a seed round led by GV, with existing investors FOV Ventures and Maki.vc also stumping up more cash for the startup, the company told CNBC on Thursday.
Helsinki-headquartered Distance develops technology that it says can turn any transparent surface into an augmented-reality display, enabling the user to see 3D digital objects overlayed on top of the panel they’re viewing.
This avoids the need for any clunky hardware, like a mixed reality headset or augmented reality glasses, both of which require a user to pull an actual device over their eyes to immerse themselves in the experience.
“One of the great barriers for mixed-reality is that, as long as you need to put something on your head, it will never be effortless or elegant as a solution,” Urho Konttori, CEO and co-founder of Distance, told CNBC in an interview earlier this week. Konttori was formerly chief technology officer of Varjo, another Helsinki-based mixed-reality firm.
Distance is primarily focused on selling into the auto, aerospace and defense markets.
The way Distance works is by using tracking technology to identify where you are looking and then compute the correct light field to match the exact positions of your eyes, according to Konttori.
Distance’s solution adds a set of optics layers on top of most liquid crystal displays (LCDs), which allow its tech to beam an image onto the places where your eyes are focusing.
Using this technique, Distance can separate the light fields into your left and right eyes, while also creating an additional optical layer underneath that creates a high brightness.
Distance says its system is capable of “infinite” pixel depth, meaning it can create a life-size field of view in any setting — whether behind the wheel of a car or flying an F-18 fighter jet.
“We are particularly excited about how some of the nearer-term pathways to bring this to market in automotive and aerospace allow the potential for users to get their hands on this technology,” Roni Hiranand, principal at GV, told CNBC.
Commercializing mixed reality isn’t an easy feat. For one, mixed-reality devices are still expensive. Apple’s Vision Pro and Microsoft’sHoloLens 2 devices both start at $3,500 — and they’re not cheap to make, either. A new AR glasses concept deviceMeta unveiled Wednesday reportedly cost the firm $10,000 per unit to make, according to The Verge.
Meta was not immediately available for comment when contacted by CNBC.
Augmented reality heads-up displays, or HUDs, aren’t a new phenomenon in the automotive industry. Companies have been working to add AR features to cars for several years, with tech giant Huawei among the early movers to pioneer the tech in China.
A slew of other display technology firms are developing their own AR HUDs for cars, including First International Computer, Spectralics, Envisics, Futurus, CY Vision, Raythink, Denso, Bosch, Continental, and Panasonic.
According to Distance Technologies Chief Marketing Officer Jussi Mäkinen, the company’s system can cover the entire surface of any transparent surface, not just a specific corner or the bottom half of a display — a limitation that most automotive AR HUDs are facing today.
“The main difference here is that we are driven by the software,” Mäkinen told CNBC.
The company previously showcased a proof-of-concept version of its technology at the Augmented World Expo USA 2024 mixed-reality industry trade show in June.
For now, Distance has had to use simple optics and normal LCD displays to demonstrate its technology to prospective partners and investors. Going forward, Konttori said he’s getting ready to push a “very expensive” button: advancing Distance’s optics technology into what he calls the next generation early next year.
“I would say that we have been in the research cycle now,” Distance’s CEO said. “Now, we are switching into the product cycle. And the key thing to do is work with somebody who will become your customer … one or two to work very closely with, and then a finalized product specification.”
Elon Musk listens as reporters ask U.S. President Donald Trump and South Africa President Cyril Ramaphosa questions during a press availability in the Oval Office at the White House on May 21, 2025 in Washington, DC.
Chip Somodevilla | Getty Images
Tesla shares gained about 5% on Tuesday after CEO Elon Musk over the weekend reiterated his intent to home in on his businesses ahead of the latest SpaceX rocket launch.
The billionaire wrote in a post to his social media platform X that he needs to be “super focused” on X, artificial intelligence company xAI and Tesla as they launch “critical technologies” on the heels of a temporary outage.
“As evidenced by the uptime issues this week, major operational improvements need to be made,” he wrote, adding that he would return to “spending 24/7” at work. “The failover redundancy should have worked, but did not.”
An outage over the weekend briefly shuttered the social media platform formerly known as Twitter for thousands of users, according to DownDetector. Earlier in the week, the platform suffered a data center outage. X has suffered a series of outages since Musk purchased the platform in 2022.
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Musk has previously indicated plans to step away from his political work and prioritize his businesses.
During Tesla’s April earnings call he said that he would “significantly” reduce his time running President Donald Trump‘s Department of Government Efficiency.
In the last election cycle, Musk devoted time and billions of dollars to political causes and toward electing Trump in 2024. However, a story over the weekend from the Washington Post, citing sources familiar with the matter, said that Musk has grown disillusioned with politics and wants to return to managing his businesses.
Last week, Musk said in an interview at the Qatar Economic Forum that he planned to spend “a lot less” on campaign donations going forward.
The comments from Musk precede SpaceX’s Starship rocket Tuesday evening. Pressure is on for the company after two Starship rockets exploded in January and March.
Ahead of the launch, Musk announced an all hands livestream on X at 1 p.m.
Tesla is still facing fallout from Musk’s political foray, with protests at showrooms and other brand damage.
In April, Tesla sold 7,261 cars in Europe, down 49% from last year, according to the European Automobile Manufacturers’ Association.
National Economic Council Director Kevin Hassett said Tuesday that the Trump administration does not want to “harm Apple” with tariffs.
“Everybody is trying to make it seem like it’s a catastrophe if there’s a tiny little tariff on them right now, to try to negotiate down the tariffs,” Hassett told CNBC’s “Squawk Box” on Tuesday. “In the end, we’ll see what happens, we’ll see what the update is, but we don’t want to harm Apple.”
Hassett’s comments come after President Donald Trump said in a social media post that Apple will have to pay a tariff of 25% or more for iPhones made outside the U.S. Apple has historically manufactured its products in foreign countries including China, India and Vietnam.
“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump wrote in the post. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank your for your attention to this matter!”
By some estimates, a U.S.-made iPhone could cost as much as $3,500.
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“If you think that Apple has a factory some place that’s got a set number of iPhones that it produces and it needs to sell them no matter what, then Apple will bear those tariffs, not consumers, because it’s an elastic supply,” Hassett said.
Hasset’s comments continue the administration’s push to pressure companies to shoulder the cost burden of Trump’s tariffs, instead of raising prices for consumers.
Earlier this month, Trump told retail giant Walmart to “EAT THE TARIFFS” after the company warned it would have to pass those added costs on.
Shares of Apple were up more than 1% Tuesday.
Apple did not immediately respond to CNBC’s request for comment.
Dr. Priti Patel, CMIO at John Muir Health, uses Ambience before starting a patient encounter.
Courtesy of Ambience Healthcare
Artificial intelligence startup Ambience Healthcare on Tuesday announced a new medical coding model that outperforms doctors by 27%.
Ambience uses AI to draft clinical notes in real-time as doctors consensually record their visits with patients. The company used tools from OpenAI to build the new model.
The startup is part of a fiercely competitive market that has taken off as health-care executives search for solutions to help reduce staff burnout and daunting administrative workloads.
The company’s new model can listen to patient encounters and identify ICD-10 codes, which are internationally standardized classifications for different diseases and conditions. There are about 70,000 ICD-10 codes that are regularly updated and used to facilitate billing and other reporting processes in health care.
Ambience said its new ICD-10 model can reduce billing mistakes and help clinicians and professional coders work more efficiently. The model notched a “27% relative improvement over physician benchmarks,” according to a release on Tuesday.
“We’re not replacing doctors or coders,” Brendan Fortuner, Ambience’s head of engineering, told CNBC in an interview.“What we’re doing is we’re liberating them from administration, and we’re fixing mistakes that help make health care better, safer, more cost-effective.”
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Documenting ICD-10 codes has traditionally been a labor-intensive task in health care, but it’s a crucial way to track outcomes, mortalities and morbidities in a standardized way, said Dr. Will Morris, the chief medical officer of Ambience.
“If you think about it from a data perspective, it’s how you can compare and contrast clinician A to B, or health system A to B,” Morris said in an interview. “It’s the cornerstone for quality.”
Ambience’s technology is used at more than 40 health-care organizations, like Cleveland Clinic and UCSF Health. It has raised more than $100 million, according to PitchBook, from investors including Kleiner Perkins, Andreessen Horowitz and the OpenAI Startup Fund.
The company is reportedly seeking fresh capital at a valuation of over $1 billion, according to a report from The Information. Ambience declined to comment on the report.
Ambience trained its new AI model using OpenAI’s reinforcement fine-tuning technology. This technology allows companies to tune OpenAI’s best reasoning models for very specific domains, like health care.
To validate the model, Ambience tested it against a “gold panel” set of labels, the company said. The labels were established by a group of expert clinicians who evaluated complex clinical cases and came to an agreement on what the right codes were.
Ambience’s AI platform for compliant documentation, CDI, and coding.
Courtesy of Ambience Healthcare
The company then recruited 18 different board-certified doctors and compared their performance on ICD-10 coding accuracy to the model’s performance. That comparison showed the Ambience technology performed 27% better than the physician baseline.
“It shows for the first time that an AI system can actually surpass clinician experts at a very, very important administrative task, especially in coding,” Fortuner said.
Ambience already has similar capabilities available for other medical codes like Current Procedural Terminology (CPT) codes, and Fortuner said it’s exploring how to tackle other areas like prior authorizations, utilization management and clinical trial matching.
The company’s new ICD-10 model will roll out to customers over the summer.
“Getting it right at the point of care is a fundamental change,” Morris said.