Egypt’s O7 Therapy turned the game $ 2.1M into cash

The Cairo -based healthtech initiative has begun to provide mental health services in the Middle East and North Africa (MENA) which has secured one of the largest economic cycles for its region in the country.

O7 Therapy – a digital and mobile platform that specializes in online medicine, health programs, and psychoeducational resources for “Arabic -speaking users” – has raised $ 2.1 million in a round of funding to led by Hikma Ventures. The business unit is part of Hikma Pharmaceuticals based in London.

Other contributors to the funding were C-Ventures, Lotus Ventures, and “famous angel investors,” O7 Therapy said in a statement.

“We are thrilled that Hikma joins our mission to improve people’s lives,” added CEO and co-founder, Ashraf Bacheet. “Health and wellness is important. Everyone needs access to and, more importantly, access to premium mental health services. This is what we do in our work. . “

THE CONNECTION

Founded in 2019 by Bacheet, Ashraf Adel, and Nader Iskander, O7 Therapy offers a network of psychiatrists and psychotherapists – many of whom are bilingual – to support clients in both Arabic and. the English language.

“This journey is more than two years in the making, and its commitment to the unity of leaders from all walks of life has been instrumental in creating a system that is accessible to all. mental health care in the country, ”Adel said.

Compared to other places, MENA is not treated as a mental health service and support. For example, conditions such as depression and anxiety are the leading cause of disability in the Arab world, which accounts for 5 · 54% of the world’s population. However, there is a lack of public awareness and education on mental health patients, as well as a lack of support through local health officials, unlimited mental health services for poor communities, and poor mental health services. social stigma associated with it.

“Our commitment to mental health improves everyone’s well -being in all areas of life – student life, work, homes, family, friends, and physical health. This will improve the performance of businesses, SMEs, employers and government employees, which will have a negative impact on countries in terms of employment, ”Iskander said. He added that part of the platform was focused on “increasing knowledge and understanding, creating safe and supportive spaces, and implementing initiatives to strengthen sustainable development.” mental health, ”in the workplace.

According to O7 Therapy, the fundraiser will focus on growing the threshold between MENA, as well as developing new product features and developments. It will allow it to begin expanding its health programs to serve more organizations.

IN THE HISTORY

“We are excited to be part of a joint effort to transform mental health care and medicine for Arab-speaking people around the world,” said Hamzeh Abdul-Hadi, head at Hikma Ventures. “We believe Hikma has a vital role to play in bringing down the issue and helping to provide for a larger number of people in the country.

“COVID-19 is faster in securing health services and they are more effective than ever before, with an increase in mental health problems, including loneliness, depression, anxiety. , fire, etc. The O7 Therapy facility is well set up to address these issues.

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