- Mantas has launched parametric insurance for cloud outages, backed by a $1.77 million seed round, to protect businesses from the financial impact of cloud service disruptions.
- The solution enables automatic payouts triggered by verified outage data, offering immediate liquidity without lengthy claims processes.
- With early expansion planned across MENA and North America, Mantas targets digital-first sectors such as fintech, e-commerce, SaaS, airlines, and regulated enterprises.
Mantas announced its launch from stealth alongside a $1.77 million seed round to introduce parametric insurance that protects businesses from the financial fallout of cloud service outages. The round included Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate, and strategic angel investors, with proceeds allocated to product development, risk modeling, and early customer deployments.
As dependence on hyperscale cloud infrastructure accelerates, even brief outages can freeze transactions, disrupt operations, and damage customer trust. Mantas addresses this gap by using parametric triggers, enabling payouts based on verified outage data rather than traditional claims processes, which often provide limited financial certainty.
“Cloud downtime has become one of the largest unpriced liabilities in the digital economy,” said Basil Mimi, CEO and Co-Founder of Mantas, noting that recent outages underscored the need for measurable, insurable protection aligned with modern infrastructure.
The company offers tailored coverage paired with real-time risk monitoring, targeting digital-first businesses including fintechs, e-commerce platforms, SaaS providers, airlines, and regulated enterprises. Beyond insurance, Mantas delivers risk intelligence to help companies identify exposure and strengthen infrastructure decisions.
Investors highlighted Mantas’ approach as a shift in how cloud risk is managed—linking coverage directly to real-world infrastructure behavior. Looking ahead, Mantas plans to expand coverage alongside the growing adoption of cloud and AI, aiming to ensure businesses are not left financially exposed as digital dependencies deepen.
