Egyptian health tech, O7 Therapy secures $2.1M in a UK-based VC, Hikma Ventures-led seed round
O7 Therapy, an Egyptian mental health digital start-up, has secured $2.1 million in a seed round led by the UK-based Hikma Ventures with participation from C-Ventures, Lotus Ventures, and numerous famous angel investors. The fresh funds will be utilized to speed up operations in the Middle East and assist in introducing different new product features and innovations.
Furthermore, the current funding will enable the team to extend its Corporate Wellness Programs to include additional firms around the area that are committed to improving mental health in the workplace.
O7 Therapy is a sophisticated, scientific, and evidence-based online platform that was launched in Egypt in 2019 to assist clients from all over the world in achieving mental well-being and positively impacting the workforce.
Serial entrepreneur and CEO Ashraf Bacheet lead the team, which also includes Co-Founders, Dr. Ashraf Adel, Assistant Professor of Psychiatry and Founder of nine psychology, and Nader Iskander, a software entrepreneur and Chairman of EME International.
They’ve collaborated to create a platform that guides clients through a technology-enabled therapy journey while also ensuring their protection and safety through trusted data encryption and storage standards in a user-friendly framework. It also provides staff health programs for businesses, and with the support of the fundraising round, it intends to grow across the area.
“Everyone deserves convenient and, more importantly, personalized trustworthy access to premium mental wellness services. This is what drives us to do what we do.” Said, Ashraf Bacheet, CEO and co-founder of 07 Therapy.
“While COVID-19 has increased uptake of digital health services, it has also led to an increase in mental health concerns such as loneliness, stress, anxiety, burnout, and more,” Hamzeh Abdul-Hadi, Principal at Hikma Ventures, said. O7 Therapy, we feel, is well-positioned to solve some of these issues and give consumers a trustworthy platform for improved health and wellness.”
“Investing in mental health benefits people in many aspects of their lives, including student life, job, homes, family, friends, and even physical health.” As a result, entrepreneurs, SMEs, corporate, and government personnel perform better, significantly impacting nations’ economies,” Nader Iskander, co-founder of O7 Therapy, said.