- 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.
O7 Therapy is a refined, scientific, and evidence-based online platform, established to support clients from around the world providing pathways to mental wellness and positively impacting the workforce. Led by serial entrepreneur and CEO Ashraf Bacheet, alongside Co-Founders, Assistant Professor of Psychiatry and Founder of nine psychology, Dr Ashraf Adel, and tech entrepreneur and Chairman of EME International, Nader Iskander. Together, they have developed a platform that takes clients through a technology-enabled therapeutic journey and ensures the security and safety of clients, through trusted protocols for data encryption and storage, in a user-friendly framework. O7 Therapy has constructed a network of leading bilingual psychiatrists and psychotherapists to support clients through the mental challenges they might be facing.
The recent round was led by Hikma Ventures, and the participation of C-Ventures, Lotus Ventures, and several prominent angel investors. The investment aims to support mental well-being, help address different challenges, and advocate for mental health and wellness. The round is aiming to enable growth across the Middle East and facilitate various new product features and developments. In addition, the recent investment will allow the team to expand its Corporate Wellness Programs for more organizations across the region, that are focused on elevating mental wellbeing in their workplace.
“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.