The news: London-based capital markets firm LO:TECH has raised a $12M Series A led by MMC, with existing investors Faction and 13 Books Capital participating alongside Atka. The money will fund expansion into the US and Asia-Pacific, including New York and Singapore.

Zoom in: LO:TECH’s high-frequency trading infrastructure powers both its own liquidity provision and client services across traditional, digital, and prediction markets. It serves more than 50 institutional clients across designated market making, market data, and execution services, launching execution alongside the raise, and in July became a licensed distributor of Kalshi’s market data.

Why it matters: MMC partner Ollie Richards said in a press statement that the firm delivered “triple-digit revenue growth over the past year through exceptionally tough crypto market conditions.” LO:TECH plans to become regulated in the markets it enters and is exploring US licenses. It joins a run of trading-infrastructure deals around prediction markets, after market maker Raven took a strategic round from Coinbase Ventures and CMCC Global.