Mantas Launches Parametric Cloud Outage Insurance and Closes $1.77M Seed Round

Mantas, a UAE-based company specializing in cyber risk and cloud outage protection, has officially launched from stealth alongside the closing of a $1.77 million Seed funding round.

The round included participation from Nuwa Capital, Suhail Ventures, Plus VC (+VC), OQAL Angel Investors Network, and strategic angel investors. The funding will support product development, risk modelling, and early customer deployments across the MENA region and North America.

As cloud infrastructure becomes the backbone of modern business, outages have evolved from technical inconveniences into material financial risks. Traditional mitigation tools such as SLAs and resilience engineering provide limited financial certainty. Mantas introduces a parametric insurance model for cloud outages, enabling automatic payouts triggered by verified outage data, eliminating lengthy claims processes.

“Cloud downtime is now one of the largest unpriced liabilities in the digital economy,” said Basil Mimi, CEO and co-founder of Mantas.

Mantas offers tailored cloud outage insurance combined with real-time cloud risk monitoring, designed for digital-first companies including fintechs, SaaS providers, e-commerce platforms, airlines, and regulated enterprises. When predefined outage conditions are met, payouts are triggered automatically, providing fast and transparent liquidity.

Founded in 2024, Mantas aims to expand its platform in line with the growing complexity of cloud and AI infrastructure, ensuring businesses are never left financially exposed as their digital dependencies evolve.