Mantas raises USD $1.77m to insure against cloud downtime

Dubai-based startup Mantas has launched following a successful USD $1.77 million seed funding round. The firm offers a specialised product designed to insure businesses against cloud downtime through the use of parametric cover. By streamlining the claims process, Mantas focuses on mitigating the operational and financial losses that typically arise from outages at major cloud service providers.

While maintaining a strategic presence in the United Kingdom and the United States, the company has confirmed that its initial deployment efforts will be concentrated across the MENA region and North America. This targeted approach allows the startup to address the growing demand for digital resilience in markets heavily reliant on cloud infrastructure.

Nuwa Capital, Suhail Ventures, Plus VC and OQAL Angel Syndicate participated in the round, alongside strategic angel investors. Mantas said it will use the funding for product development, risk modelling and early customer deployments.

Cloud outage cover

Mantas said it applies parametric insurance to cloud service interruptions. Parametric insurance uses predefined triggers and data sources rather than a traditional claims process.

The company said verified outage data triggers payouts when predefined outage conditions are met. Mantas positioned this as an alternative to approaches that rely on service level agreements, legal contracts and resilience engineering.

"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, 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," said Mimi.

Mantas said it targets digital-first companies with revenues and operations tied closely to continuous cloud availability. It listed fintechs, airlines, eCommerce platforms and SaaS providers. It also listed regulated enterprises.

The company said it combines insurance with real-time cloud risk monitoring. It described this monitoring as a source of risk intelligence. Mantas said it uses the data to show customers their exposure and inform infrastructure decisions ahead of failures.

Market backdrop

Cloud outages have drawn increased attention as more businesses consolidate critical operations on a small number of hyperscale providers. The release pointed to the risk of cascading failures in interconnected architectures, and to financial consequences that can follow even short periods of downtime.

Mantas said concentrated cloud adoption increases systemic risk. It also said financial protection has not kept pace with reliance on cloud platforms in North America and the Middle East.

"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.

Investors in the round also linked the product to cyber insurance and to data-driven underwriting.

"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." said Hasan Haider, Founder and Managing Partner at Plus VC.

"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 minimize 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." Ayat Alsabbagh, Principal of Suhail Ventures.

Origins and expansion

The origins of Mantas can be traced back to a personal encounter involving its founder, Mimi, who experienced difficulties while attempting to place a food order during a widespread cloud outage. According to the company, this seemingly minor disruption escalated into a significant event, resulting in substantial financial losses and public fallout for the business involved. This experience highlighted the critical vulnerabilities within digital infrastructures, ultimately serving as the catalyst for the startup's parametric insurance solution.

Mantas said the founder's engineering background shaped its focus on measurable outage events and the gap in financial cover. It also pointed to parametric insurance models in agriculture and weather as an influence on its approach.

Looking ahead, Mantas said it plans to expand as cloud and AI infrastructure usage evolves. The company said it expects architectures to become more interconnected and failures to cascade across services. It said it aims to extend coverage across additional digital risks while strengthening its real-time monitoring and risk intelligence.