LO:TECH raises $12 million Series A led by MMC
LO:TECH raised $12 million in a Series A led by MMC for New York and Singapore desks, selling execution across venues that stay open after the cash close.
Low Observable Technology (LO:TECH) has raised $12 million in a Series A led by MMC, and the figure is easier to read beside the build-out it is trying to join. Alpaca's $435 million round was aimed at prime brokerage for tokenised and agent-driven trading, while LO:TECH is funding a London market-making firm that wants to sell execution into the same always-on hours. The new money is more than double the $5 million seed that 13books Capital led on August 21, 2025, and the November 2 release describes United States permissions as licences the firm is exploring.
Having followed infrastructure rounds aimed at continuous markets, the order of events is the part that travels beyond the headline. The company announcement on November 2, 2026 names Faction and 13 Books Capital as returning investors, with Atka participating alongside them, and it assigns the capital to New York, Singapore, institutional execution and local authorisation. Tech.eu carried the same lead investor, the same $12 million and the same two cities on the day of the release, so the core terms sit on a wire as well as on the company site.
The product tied to the round is execution, which the November 2 release describes as launching that day across traditional markets, digital assets and prediction markets. LO:TECH's execution page lists time-weighted average price (TWAP), volume-weighted average price (VWAP) and percentage-of-volume (POV) algorithms, with bespoke algos on request, a cost estimate before the order, and slippage, fees and venue mix after it. The firm says that menu sits on the same systems it already uses to price and trade across centralised, onchain, traditional and prediction-market venues.
Where the hours are already taken
Institutional access to event contracts is already split between a data pipe and a block desk. On July 8, 2026 LO:TECH said it had become a licensed distributor of Kalshi data, while Cantor Fitzgerald has opened a block desk for Kalshi event contracts. "Access to event market contract data is essential for enabling institutional participants to manage and hedge risk more effectively," said Andy Ross, head of institutional at Kalshi, in that July agreement, which speaks to data distribution and predates the Series A.
Always-on equities have a separate seam between the hours an order can be sent and the hours a reference price is produced. Coinbase's B20 stocks trade through the weekend on a feed that still follows weekday hours, which is the practical limit on a market that advertises continuous trading. LO:TECH's November 2 release points to a June joint venture between Intercontinental Exchange, owner of the New York Stock Exchange, and OKX, aimed at NYSE tokenised equities for OKX customers once approval lands, and the release leaves LO:TECH's own tokenised-equity book undescribed. Jane Street, Citadel Securities and Jump Trading were absent from the company release and from the Tech.eu and FinTech Global accounts, and a separate OKXICE notice lists 63 tokenised stocks.
"Tim, Marcus and the LO:TECH team have built a business designed for markets that never close, delivering triple-digit revenue growth over the past year through exceptionally tough crypto market conditions," said Ollie Richards, partner at MMC, in the November 2 announcement. Tim Meggs, chief executive and co-founder, used the same release to set LO:TECH against a cash session that opened at 8am and closed at 4.30pm, and he argued the firm had built its systems for continuous, onchain trading across asset classes.
The Series A release says LO:TECH serves more than 50 institutional clients across designated market making, market data and execution. Founders Tim Meggs, Marcus Horsley and Alex Williams built the firm in London, and the August 21, 2025 seed, led by 13books Capital, with Lightspeed Faction also participating, was aimed at extending high-frequency trading infrastructure into agency execution and over-the-counter (OTC) trading. FinTech Global, writing on November 3, 2026, repeated MMC's triple-digit revenue line, which remains an investor statement in the release rather than a figure from a filed account, and the announcement includes no post-money valuation.
What happens next follows from the use of proceeds the company has already written down. A desk in New York that handles agency orders for funds and banks needs a United States permission the November 2 release still calls an exploration, and Singapore adds a second authorisation track. MMC's quote places that triple-digit revenue line inside a hard year for crypto, so that growth predates the New York and Singapore push this round is meant to fund. The milestone that would change the story for bank and fund clients is a named application in the United States or Singapore, or a named broker partner, because an algorithm list on a London site can produce a cost estimate and still stop short of a regulated ticket.
Reporting by Rick Steves. Filed 10 November 2026, 20:03 GMT.
Senior Reporter, Regulation and Fintech
Rick Steves has seen business and economics through many lenses. He joined the financial services industry in 2009, and has been a financial journalist since 2011.
