Plessey Semiconductors Acquired by XR Company Haylo Labs
Plessey Semiconductors Acquired by XR Company Haylo Labs
Plessey Semiconductors Ltd of Plymouth, UK — a developer of embedded micro-LED technology for augmented-reality and mixed-reality (AR/MR) display applications — has been acquired by London-based Haylo Labs. The new firm was created by Haylo Ventures, a venture operator founded in 2023 to scale deep-tech businesses, with a focus on the micro-LED, optical compute, and interconnect markets.
Haylo Labs has pledged to invest over £100m in the UK within five years to expand manufacturing capacity and increase the workforce in Plymouth and other regions.
The global micro-LED sector is projected to grow from £2.7bn ($3.7bn) in 2024 to more than £592bn ($800bn) by 2034, driven by applications in AR, VR, automotive displays, premium electronics like smart glasses and headsets, and optical computing. Demand for ultra-efficient displays and computing units is surging as these technologies embed into consumer products.
Founded in 1956 with a 270-person team, Plessey offers a fully integrated platform covering design, manufacturing, and engineering of next-generation display technologies in-house. This end-to-end capability and its strong IP portfolio position the firm to scale micro-LEDs from research to mass production.
The acquisition is expected to reinforce the UK’s standing in immersive computing.
“Plessey has built the world’s most advanced micro-LED platforms, with the highest efficiency to date, and is one of the only facilities in the world that can offer customers an end-to-end design and manufacturing facility with technology and talent that surpasses rivals anywhere globally,” said Haylo Labs CEO and co-founder David Hayes. “This acquisition is not just about backing British innovation — it’s about unlocking its global potential in one of the fastest-growing markets over the next decade.”
“I welcome this landmark investment in Plessey, which will help position Plymouth at the forefront of next-generation technology,” said Rebecca Smith MP for South West Devon. “This is a major boost for our city and the surrounding areas — creating high-skilled local jobs and reinforcing Plymouth’s role as the manufacturing powerhouse of the South West.”
Plessey’s processes can also support optical processing units (OPUs) for AI workloads that consume high energy. Optical computing units (OCUs), light-based chips, deliver faster, cooler, and more efficient performance than silicon. Plessey aims to advance scalable optical computing solutions.
“This acquisition is about enabling the future of AI-powered devices that are lightweight, energy-efficient, and wearable in the real world,” said Haylo Labs co-founder Claire Valoti. “The UK has the opportunity to lead, not follow, the next wave of global computing. Our investment will fuel innovation and expand the local talent pool, creating opportunities at a time when skilled jobs in advanced manufacturing are critically needed.”
“The Haylo Labs acquisition will accelerate Plessey’s commercial scaling, bringing transformative micro-LED and optical computing technologies to the global market,” said Plessey Semiconductors CEO Keith Strickland. “We are focused on expanding our manufacturing footprint here in Plymouth and strengthening our engineering talent pool. This investment underscores our commitment to sustainable growth and innovation in the UK.”
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About Plessey Semiconductors
Plessey Semiconductors Ltd, founded in 1956 and headquartered in Plymouth, UK, is a pioneer in advanced micro-LED display technology. With over 270 employees, the company has established a fully integrated platform covering research, design, manufacturing, and engineering of next-generation display solutions entirely in-house. Plessey’s micro-LED innovations are designed for applications in augmented reality, mixed reality, automotive displays, and premium consumer electronics such as smart glasses and headsets.
The company also explores optical computing technologies, repurposing its micro-LED processes to develop optical processing units (OPUs) and optical computing units (OCUs). These light-based chips promise faster, cooler, and more energy-efficient performance compared to traditional silicon-based devices. Plessey’s extensive intellectual property portfolio and end-to-end production capabilities make it one of the few global firms able to scale micro-LED innovations from laboratory concepts to mass production, reinforcing its role as a key player in immersive computing and advanced electronics worldwide.
About Haylo Labs
Haylo Labs is a London-based deep-tech company established by Haylo Ventures, a venture operator founded in 2023 to build and scale next-generation technology businesses. The firm is focused on the development and commercialization of micro-LED display technology, optical computing, and advanced interconnect solutions.
With a commitment to investing more than £100 million in the UK over the next five years, Haylo Labs is expanding manufacturing capacity and creating high-skilled jobs, particularly in Plymouth and surrounding regions. The company’s mission is to harness the potential of British innovation and position the UK as a global leader in immersive computing and optical processing. By combining advanced micro-LED platforms with optical computing technologies, Haylo Labs aims to accelerate the delivery of lightweight, energy-efficient devices that integrate seamlessly into everyday life. The company is led by co-founders David Hayes and Claire Valoti, supported by the wider Haylo Ventures ecosystem.
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