A government loan provided to Killing Kittens to help it through the pandemic has converted into an equity stake in the company, the British Business Bank confirmed on Tuesday.
At one point, the pandemic forced the company to move all its events and workshops online, accelerating existing plans to enter the sex tech industry — a fast-growing sector that encompasses products and businesses focused on enhancing sexual experiences.
Asked about the Killing Kittens investment on Tuesday, a British Business Bank spokesperson said that “applications that met all the eligibility criteria received investment.”
“The Future Fund used a set of standard terms with published eligibility criteria,” the representative added in a statement. “The process provided a clear, efficient way to make funding available as widely and as swiftly as possible without the need for lengthy negotiations.”
Killing Kittens did not immediately respond to a request for comment.
— CNN’s Eoin McSweeney and Hanna Ziady contributed to this report.