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    Flutterwave debunks Alleged Reports of Hacked Accounts

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

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    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

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    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

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    Google Expands its Digital Wallet to South Africa

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    FCCPC Orders Drawdown of Online Credit Companies

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

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    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

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    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

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  • NEWS
    Flutterwave debunks Alleged Reports of Hacked Accounts

    Flutterwave debunks Alleged Reports of Hacked Accounts

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PICTDA announces Resumption Date for Code Plateau Cohort

    PICTDA announces Resumption Date for Code Plateau Cohort

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

  • FEATURED
    Nigeria’s Cash Swap Policy: Goals versus Results

    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

  • FINANCE
    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

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Home HEALTH CARE

Egypt’s Mental Health Service 07 Therapy Secures $2.1 million Seed Round

by Nuel Umahi
July 4, 2022
in HEALTH CARE, StartUps
Reading Time: 3 mins read
0
Egypt’s Mental Health Service 07 Therapy Secures $2.1 million Seed Round
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Egypt-based mental wellness platform, 07 Therapy that seeks to help clients deal with mental illness has secured $2.1 million seed funding.

The startup will utilize this fund to spur its growth across the Middle East, develop new product features as well as expand its Employee Wellness Program.

Hikma Ventures led this seed round with the participation of C-Ventures, Lotus Ventures, and other angel investors.

Ashraf Bacheet, Ashraf Adel, and Nader Iskander launched 07 Therapy in 2019 to provide solutions to the prevalent mental stress problem in Africa.

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.

It takes clients on therapeutic journeys and ensures the security and safety of clients, through trusted protocols for data encryption and storage, in a user-friendly framework.

O7 Therapy has also built a team of bilingual psychiatrists and psychotherapists to support clients through the mental challenges they might be facing.

Employee Wellness Programs for organizations are provided through a unique business to business to employee (B2B2E) model. This model seeks to prioritise the impact of mental health challenges in the workplace, focus on raising awareness and understanding, create safe and supportive spaces, and implement strategies that promote mental wellbeing.

CEO and co-founder, Ashraf Bacheet said in a statement, “Everyone deserves convenient and, more importantly, personalised trustworthy access to premium mental wellness services. This is what drives us to do what we do.”

According to the World Economic Forum, most African governments spend less than 1% of their allocated health budget on mental illness. Due to the lack of investment in related services, 85% of people suffering from depression on the continent have no access to effective treatment.

Currently, an estimated 100 million people in Africa suffer from clinical depression, including 66 million women.This staggering number reiterates the need for essential mental health services in Africa. 07 Therapy is a brave attempt at halting this silent epidemic.

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

“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,” he added.

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