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When Tess Cosad founded Béa Fertility, she set out to solve a problem that affects millions of people worldwide: making fertility treatment more accessible, affordable, and effective. What began as an idea to reimagine the fertility care journey has evolved into a groundbreaking company that's changing how modern families approach conception, with clinical results that speak for themselves.
Béa Fertility emerged from a recognition that traditional fertility treatments were often expensive, invasive, and inaccessible to many who needed them. Cosad identified a significant gap in the market where couples and individuals were struggling with lengthy waiting times, high costs, and limited options for at-home fertility care. The concept was deceptively simple yet revolutionary: create a clinical-grade, at-home intracervical insemination (ICI) kit that could increase pregnancy rates whilst maintaining the comfort and privacy of home treatment.
The initial idea wasn't just about convenience, it was about democratising access to fertility care. Traditional fertility treatments often require multiple clinic visits, significant financial investment, and can be emotionally and physically demanding. Cosad envisioned a solution that would put control back into the hands of those trying to conceive, whilst maintaining the clinical efficacy that medical professionals demand.
The journey from idea to market-ready product required extensive research, development, and clinical validation. Béa Fertility's approach to at-home ICI represented a significant advancement in fertility technology, but proving its effectiveness was crucial for both regulatory approval and market acceptance.
The company's first research cohort provided compelling evidence of the kit's potential. With 56 participants, the Béa ICI kit achieved remarkable results: 22 pregnancies, translating to a 39.28% pregnancy rate. Perhaps even more impressive was the data showing that the kit could increase the chance of pregnancy by up to 50% in those under 30 over six cycles. These weren't just promising statistics - they represented real families achieving their dreams of parenthood.
The clinical-grade nature of the kit was essential to its success. Unlike other at-home fertility products that might be considered lifestyle accessories, Béa Fertility created a genuine medical device that could compete with traditional clinic-based treatments whilst offering the additional benefits of privacy, convenience, and cost-effectiveness.
Béa Fertility's growth trajectory demonstrates how innovative femtech solutions can achieve both clinical success and commercial viability. The company first pitched to Angel Academe in 2020, during a funding round led by boutique early-stage healthtech VC firm Calm/Storm Ventures. The Angel Academe due diligence process was comprehensive, co-led by experienced angels John Souter, Esther Richardot Reynal del Saint Michel, and Pamela Walker.
From an initial valuation of £2.25 million in 2020, Béa Fertility has achieved an impressive 8.4x multiple on invested capital (MOIC), with the company now valued at £19 million. This growth has attracted notable co-investors including Forward Partners, JamJar Investments, Octopus Ventures, and QVentures. To date, the business has raised £3 million in total funding.
The company's success reflects not just the quality of its product, but also the growing recognition of femtech as a crucial and underserved market segment. Béa Fertility's ability to attract follow-on investment from prestigious firms like Octopus and JamJar demonstrates investor confidence in both the company's specific approach and the broader femtech opportunity.
Tess Cosad's experience as a female founder in the fertility space highlights the persistent challenges that women entrepreneurs face when seeking investment. Research consistently shows that female-founded companies receive a disproportionately small share of available venture capital funding, with data showing that in 2024, only 2.3% of the $289 billion invested globally went to female-only founding teams, whilst all-female founded businesses in the UK secured just 1.8% of equity capital in the first half of 2024.
The challenges extend beyond funding amounts - research by Wokelo shows that successful female tech founders need twice as much experience as male founders to secure venture capital funding, with women requiring a minimum of 12 years of leadership experience versus just nine years for men. This "Gender Experience Gap" means that female founders must meet significantly higher standards to access the same opportunities.
The femtech sector, despite addressing health needs that affect half the global population, has historically been overlooked by predominantly male investment committees. This creates a particularly acute challenge for companies like Béa Fertility, which are solving problems that male investors may not fully understand or appreciate the scale of. Studies by Boston Consulting Group and the Kauffman Foundation show that women-run businesses are on average more capital efficient and can deliver higher return on investment than male-founded startups – sometimes as much as twice per dollar invested.
Cosad herself has spoken about these challenges: "Raising early-stage investment as a femtech founder isn't easy, but Angel Academe immediately understood the scale of the problem we're solving and the opportunity behind it." This statement encapsulates the broader issue whilst the problems are significant and the solutions valuable, finding investors who truly comprehend the market opportunity can be difficult.
Angel Academe's approach to backing Béa Fertility exemplifies how targeted investment can help bridge the gender funding gap. As Cosad noted: "They've backed Béa with conviction, not just once, but across multiple rounds, becoming one of our largest investors. Their commitment to championing women-led innovation is clear in everything they do."
This sustained support model is crucial for early-stage companies, particularly those founded by women who may face additional hurdles in subsequent funding rounds. Angel Academe's willingness to provide follow-on investment demonstrates confidence in both the founding team and the business model..
The success of Béa Fertility illustrates the significant opportunity available to investors who can identify and support exceptional female founders early in their journey. Angel Academe's EIS Fund I, launched in 2025 as the UK's first Enterprise Investment Scheme fund dedicated to female founders, provides individual investors with the opportunity to back companies just like Béa Fertility whilst benefiting from the tax advantages of the Enterprise Investment Scheme (subject to individual circumstances).
Through the fund, which operates in partnership with SyndicateRoom, investors can access a diversified portfolio of carefully selected companies founded by women, each addressing significant market opportunities with innovative solutions. With a minimum investment of £10,000, the fund aims to co-invest in seven to ten high growth potential female-founded tech startups, providing both diversification and access to experienced due diligence processes led by Angel Academe's network of seasoned investors.
For investors seeking both financial returns and social impact, the Angel Academe EIS Fund I offers a compelling proposition: the chance to back the next generation of groundbreaking companies whilst helping to address the persistent gender gap in startup funding.
Founders Forum Group - Women in VC & Startup Funding: Statistics & Trends (2025 Report)
Startups.co.uk - Women Founders Face 'Gender Experience Gap' in VC Funding
EU-Startups - London-based healthtech Béa Fertility raises €2.9 million
Sifted - Fertility-as-a-service startup Béa Fertility raises $1m
UK Business Angels Association - Angel Academe launches UK's first female founder focused EIS fund
