Mantas, a provider of parametric cyber insurance and predictive analytics to help businesses mitigate cloud downtime risks, is launching a parametric-based insurance solution to cover the operational and financial impact of cloud outages and digital risks.
For the coverage, the firm has secured a total of $1.77 million in funding from Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate, and strategic angel investors.
The capital will support product development, risk modelling, and early customer deployments across the Middle East and North Africa (MENA) region and North America
The firm aims to fill the “limited or nonexistent” coverage currently available for cloud service interruptions. The launch comes as reliance on hyperscale cloud infrastructure continues to accelerate, particularly in regions undergoing rapid digital transformation.
Mantas explained that traditional approaches to managing this risk rely on SLAs, legal contracts, and resilience engineering, all of which offer limited financial certainty during failures. To find a workaround, the firm is applying parametric insurance to cloud outages, enabling automatic payouts triggered by verified outage data rather than lengthy claims processes.
The firm provides tailored cloud outage insurance combined with real-time cloud risk monitoring, 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.
Mantas plans to expand its platform alongside the evolving use of cloud and AI infrastructure. The firm says the two regions were chosen as financial protection has lagged behind technological reliance, creating structural exposure across digital-first industries.
Basil Mimi, Chief Executive Officer and Co-Founder, Mantas, commented, “Cloud downtime is now one of the largest unpriced liabilities in the digital economy, as outages at AWS and Azure in late 2025 demonstrated. 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.”
Arnav Danthi, Principal, Nuwa Capital, added, “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.”
Hasan Haider, Founder and Managing Partner, Plus VC, stated, “At Plus VC, we back exceptional founders building category-defining companies, and Mantas is a strong reflection of that conviction. The company is redefining cyber insurance through its technology-driven MGA model, combining tailored coverage with predictive analytics to address one of today’s most critical risks—cloud downtime.
“What impressed us most is the team’s deep domain expertise, strong execution mindset, and their ability to translate complex risk data into actionable insights that help businesses proactively mitigate exposure. We are excited to support Basil, Abdallah, and the Mantas team as they scale this differentiated platform regionally and beyond.”
Ayat Alsabbagh, Principal, Suhail Ventures, concluded, “We are proud to be partnering with Mantas in leading the shift towards data-driven business protection. The combination of Mantas’ real-time analytics with parametric insurance will significantly help companies minimise losses from cyber threats and cloud outages in a rapidly growing market. We believe Mantas is setting a new standard for securing enterprise continuity through innovative insurance solutions.”
