Mantas launches with funding round to insure cloud downtime with parametric coverage

DUBAI, UAE — Cloud infrastructure company Mantas announced its launch alongside a seed funding round to introduce parametric insurance for cloud outages. 

The round totals $1.77 million and includes participation from Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate, and strategic angel investors. The capital will support product development, risk modeling, and early customer deployments across the MENA region and North America.

The launch comes as reliance on hyperscale cloud infrastructure continues to accelerate, particularly in regions undergoing rapid digital transformation. Businesses now operate on always-on platforms where even minutes of downtime can halt transactions, disrupt operations, and erode customer trust. Traditional approaches to managing this risk rely on SLAs, legal contracts, and resilience engineering. Mantas, however, takes a different approach by applying parametric insurance to cloud outages, enabling automatic payouts triggered by verified outage data rather than lengthy claims processes.

“Cloud downtime is now one of the largest unpriced liabilities in the digital economy, as outages at AWS and Azure in late 2025 demonstrated,” said Basil Mimi, CEO and co-founder of Mantas. “Businesses have engineered their systems for scale and speed, but the financial layer has not kept up. Parametric insurance allows us to turn cloud outages into a measurable and insurable risk, giving companies certainty at the exact moment they need it most.”

Mantas provides tailored cloud outage insurance combined with real-time cloud risk monitoring. Its coverage is designed for digital-first companies whose revenues and operations depend on continuous cloud availability, including fintechs, airlines, e-commerce platforms, SaaS providers, and regulated enterprises. When predefined outage conditions are met, payouts trigger automatically, providing fast and transparent liquidity that allows businesses to respond, recover, and protect customer trust. Beyond coverage, Mantas also delivers risk intelligence to help companies understand their exposure and strengthen infrastructure decisions before failures occur.

The company said the need for this shift has become increasingly apparent as cloud adoption concentrates risk across a small number of critical platforms. In North America, cloud outages are increasingly systemic rather than isolated incidents. In the Middle East, governments and enterprises are scaling cloud infrastructure at record speed as they leapfrog into cloud-first operations. In both regions, financial protection has lagged behind technological reliance, creating structural exposure across digital-first industries.

“Downtime is often treated as a technical issue, but for digital businesses it’s increasingly a financial one. Mantas’ approach stood out to us because it ties insurance coverage directly to how infrastructure behaves in the real world, rather than how it’s described on paper. That’s an important step forward for this type of risk.” said Arnav Danthi, Principal at Nuwa Capital.

Mantas plans to expand its platform alongside the evolving use of cloud and AI infrastructure. As architectures becomes more interconnected and failures increasingly cascade across services, the company aims to extend coverage across emerging digital risks while strengthening its real-time monitoring and risk intelligence.