Egypt-based healthtech O7 Therapy has raised a $2.1 million Seed round, led by Hikma Ventures, with the participation of C-Ventures, Lotus Ventures, alongside angel investors.
Founded in 2019 by Ashraf Bacheet, Ashraf Adel, and Nader Iskander, O7 Therapy is a technology-enabled therapeutic platform, with a network of bilingual psychiatrists and psychotherapists to support clients through mental health challenges.
The round aims to enable the platform’s growth across the Middle East and launch new product features and developments while also expanding its client base.
“Everyone deserves convenient and, more importantly, personalised trustworthy access to premium mental wellness services. This is what drives us to do what we do,” said CEO and co-founder; Ashraf Bacheet.
Hamzeh Abdul-Hadi, Principal at Hikma Ventures commented: “While COVID-19 has accelerated adoption of digital health services, it has also contributed to a rise in mental health issues such as loneliness, stress, anxiety, burnout, and more. We believe O7 Therapy is well-positioned to address some of these problems and provide people with a trusted platform for better health and wellbeing.” It is worth mentioning that this is the first round Hikma leads in the MENA region.
When asked about O7 Therapy‘s recent progress, Ashraf Adel, co-founder of O7 Therapy, said: “This journey is over two decades in the making, and its success is due to the harmony of leaders from different industries, all deeply invested in creating an accessible system to mental healthcare in the region.”
“Our Investment in mental wellbeing improves the lives of individuals in all areas of life; their student life, work, homes, family, friends, and even physical health. This in turn improves the performance of entrepreneurs, SMEs, corporate and government employees, positively affecting countries economically” said Nader Iskander, co-founder of O7 Therapy.
Employee Wellness Programs for organizations are provided through a unique B2B2E model, prioritizing the impact of mental health challenges in the workplace, focusing on raising awareness and understanding, creating safe and supportive spaces, and implementing strategies that promote mental wellbeing.
