Mantas, a provider of parametric cyber insurance and predictive analytics designed to help enterprises mitigate the risk of cloud outage, is launching parametric-based insurance solutions to cover the operational and financial impact of cloud outages and digital risks.
To this end, the company has received a total of $1.77 million in funding from Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate and strategic angel investors.
Funding will support product development, risk modeling and early customer deployment in the Middle East and North Africa (MENA) region and North America
The company aims to fill the “limited or non-existent” coverage currently experiencing outages in cloud services. The launch comes as reliance on hyperscale cloud infrastructure continues to accelerate, particularly in regions undergoing rapid digital transformation.
Mantas explained that traditional methods of managing this risk rely on SLAs, legal contracts and resilience engineering, all of which provide limited financial certainty during a failure. To find a solution, the company is applying parametric insurance to cloud outages, enabling automatic payments triggered by verified outage data rather than lengthy claims processes.
The company offers customized cloud outage insurance combined with real-time cloud risk monitoring, designed for digital-first companies whose revenue and operations depend on continuous cloud availability, including fintechs, airlines, e-commerce platforms, SaaS providers and regulated enterprises.
Mantas plans to expand its platform as the use of cloud and artificial intelligence infrastructure continues to evolve. The two regions were chosen because financial protection lags technology dependence, creating structural risks in digital-first industries, the company said.
Basil Mimi, CEO and co-founder of Mantas, commented: “Cloud outage is now one of the largest unpriced liabilities in the digital economy, as demonstrated by the outages of AWS and Azure in late 2025. Enterprises have designed systems for scale and speed, but the financial layer has not kept up. Parametric insurance allows us to transform cloud outage into a measurable and insurable risk, providing certainty when enterprises need it most.”
Arnav Danthi, principal at Nuwa Capital, added: “Outage is often viewed as a technical issue, but for digital businesses it is increasingly becoming a financial issue. Mantas’ approach is compelling to us because it ties insurance coverage directly to how the infrastructure performs in the real world, rather than to a description on paper. This is an important step in addressing this type of risk.”
Hasan Haider, Founder and Managing Partner of Plus VC, said: “At Plus VC, we back exceptional founders to build category-defining companies, and Mantas is a powerful embodiment of this belief. The company is redefining cyber insurance through its technology-driven MGA model, combining customized insurance with predictive analytics to address one of today’s most critical risks – cloud outage.
“What impressed us most was the team’s deep domain expertise, strong execution mindset, and their ability to transform complex risk data into actionable insights to help enterprises proactively mitigate risk. We are excited to support Basil, Abdallah and the Mantas team in scaling this differentiated platform regionally and beyond.”
Ayat Alsabbagh, Head of Suhail Ventures, concluded: “We are honored to partner with Mantas to lead the shift to data-driven business protection. Mantas’ real-time analytics combined with parametric insurance will greatly help enterprises minimize losses from cyber threats and cloud outages in a rapidly growing market. We believe Mantas is setting a new standard for ensuring business continuity through innovative insurance solutions.”
