Mantas raises funding to expand cloud outage insurance for the digital economy

Mustafa Eid, Dubai, UAE, January 27, 2026:

Cloud infrastructure has become the backbone of modern business. Yet when cloud services fail, the financial consequences are often immediate and severe, while protection remains limited or nonexistent. Mantas was founded on the belief that cloud downtime is no longer a technical inconvenience, but a material business risk that should be measured, priced, and insured. Today, the company announced its launch from stealth 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, all of which offer limited financial certainty when failures occur. Mantas 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 idea for Mantas originated from a firsthand experience with cloud failure. Founder and CEO Basil Mimi encountered a widespread outage while trying to place a food order, only to watch the disruption escalate into significant losses and public fallout for the business involved. As a software engineer, the incident highlighted a blind spot in how cloud risk was being managed. While outages were measurable and predictable, the financial risk remained largely uninsured. Discovering parametric insurance models used in sectors like agriculture and weather provided the missing piece and became the foundation for Mantas.

The need for this shift is becoming 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.

Commenting on the fundraising announcement, Hasan Haider, Founder and Managing Partner at Plus VC, said:

“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.”

“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.

Mantas plans to expand its platform alongside the evolving use of cloud and AI infrastructure. As architectures become 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. The long-term vision is to ensure businesses are never left financially exposed as their technology stacks and dependencies evolve.

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