The Clap
Egyptian mental health startup O7 Therapy raised $2.1 million in a seed round.
The deets
The funding was led by UK-based VC Hikma Ventures with participation from corporate venture capital outfit CVentures (a unit of CIB), Lotus Capital, and several angel investors.
O7 Therapy stated that this is the largest seed round funding for a mental health startup in the middle east.
Why is this important?
Funds will be directed towards expanding across the middle east as well as offering new products and features.
More about O7 Therapy
The online startup connects users with psychiatrists and psychologists through online therapy sessions. It also tailors employee wellness programs to organizations.
Claps Class
Seed Round comes following the Pre-seed round. At this stage the startup is operating at an early stage and looks to grow. Most investors at this stage are angel investors who recognize the riskiness of the startup and look for equity stake.
