Egyptian e-health startup O7 Therapy raises $2.1m seed round

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Egyptian e-health startup O7 Therapy has raised a US$2.1 million seed round to support its growth across the Middle East and help it launch new product features.

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.

“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 Bacheet. 

The startup’s  US$2.1 million seed round was led by Hikma Ventures, with the participation of C-Ventures, Lotus Ventures, and various angel investors. It will support O7 Therapy’s growth across the Middle East, and facilitate various new product features and developments. It will also allow the team to expand its Corporate Wellness Programmes for more organisations across the region.

“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,” said Hamzeh Abdul-Hadi, principal at Hikma Ventures.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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