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Mantas Launches with $1.77 Million Seed Round to Redefine Digital Risk Insurance

Digital risk insurance startup Mantas has recently emerged from stealth mode, successfully securing a $1.77 million seed round. This considerable investment introduces a groundbreaking category of protection aimed specifically at businesses whose operations are critically dependent on the reliability of cloud services. This funding was backed by several prominent investors, including Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate, and a variety of strategic angels.

This initial funding will not only accelerate the pace of product development but is also poised to enhance Mantas’ risk modeling capabilities and facilitate early customer deployments across the MENA region and North America. The ambitious plan involves expanding their platform to effectively address emerging risks associated with the evolving landscape of cloud and AI infrastructure, thereby fortifying businesses against unforeseen challenges.

Transforming Cloud Outages into Quantifiable Financial Events

With cloud infrastructure serving as the backbone of modern business operations, experiencing downtime is no longer seen as a minor technical issue; it has ascended to a significant financial risk. Outages can disrupt transactions, freeze essential customer experiences, and inflict reputational damage within mere moments. Unfortunately, traditional instruments like Service Level Agreements (SLAs) or resilience engineering methodologies offer only a limited scope of financial assurance in the event of failures.

Mantas is innovatively applying a fresh perspective to parametric insurance, a model that has proven effective in sectors like agriculture and meteorology. Unlike conventional claims processes that can be convoluted and time-consuming, Mantas leverages verified outage data to trigger automatic payouts. This revolutionary approach enables businesses to receive immediate liquidity during service interruptions, thereby allowing them to recover more swiftly and maintain customer trust. Additionally, Mantas employs real-time risk monitoring, which provides companies with invaluable insights into their cloud exposure well before any incidents transpire.

The Founder’s Insight That Paved the Way for a New Insurance Niche

The inception of Mantas was inspired by founder Basil Mimi’s personal experience with a cloud service failure. What began as a straightforward effort to place a food order quickly escalated into a significant outage that had far-reaching consequences for a digital business. As a software engineer, Mimi recognized a substantial gap in the system: while outages could be predicted and quantified, the ensuing financial repercussions remained largely uninsured.

This revelation was central to Mantas’ mission of developing a new protective solution specifically tailored for businesses in high-stakes domains such as fintech, airlines, e-commerce, and regulated sectors that heavily rely on cloud services. The name "Mantas," derived from the Latin term for "security blanket," is a reflection of the company’s core promise: to offer businesses a safeguard against cascading digital risks.

With customers already on board in the UK and a vital partnership with Lockton RE in London as their key broker and reinsurer, Mantas is entering the market armed with both international validation and strategic support. The company’s mission is clear: to protect businesses from the financial shockwaves induced by cloud outages, a risk that has become increasingly prevalent, as exemplified by the high-profile disruptions at AWS and Azure in late 2025.

A Statement from Mantas’ CEO on Cloud Downtime

“Cloud downtime is emerging as one of the most significant unpriced liabilities within the digital economy, as highlighted by the disruptions observed at AWS and Azure during late 2025,” stated Basil Mimi, CEO and co-founder of Mantas. "While businesses have engineered their systems for scalability and efficiency, the financial structures that should provide coverage have lagged. Parametric insurance empowers us to translate cloud outages into measurable and insurable risks, delivering certainty to companies precisely when they need it most."

Acknowledgments from Industry Leaders

“Outages are frequently categorized as mere technical challenges, but for digital businesses, they represent a pressing financial concern. What sets Mantas apart is its innovative approach to directly align insurance coverage with the real-world performance of infrastructure, rather than traditional descriptions that fall short,” noted Arnav Danthi, Principal at Nuwa Capital.

In discussing the recent fundraising milestone, Hasan Haider, Founder and Managing Partner at Plus VC, remarked, “At Plus VC, we are dedicated to supporting exceptional founders who are creating category-redefining companies. Mantas is a clear embodiment of our conviction. They are reshaping the landscape of cyber insurance through a technology-driven MGA model, combining bespoke coverage with predictive analytics. This model aims to tackle one of the critical risks of modern business—cloud-related downtime. The team’s deep expertise, execution-driven mindset, and ability to distill complex risk data into actionable insights significantly impressed us, and we are eager to support Basil, Abdallah, and the Mantas team as they extend their unique platform both regionally and globally.”

AI legalese decoder can play a crucial role in navigating the complexities of contracts and agreements related to Mantas’ innovative services. By simplifying the often convoluted legal jargon, it allows businesses to better understand the implications of their insurance agreements, ensuring they are fully aware of their coverage and responsibilities. This clarity can be instrumental in helping companies make informed decisions, particularly when dealing with risk mitigation strategies associated with cloud infrastructure. Moreover, as Mantas leads the charge in parametric insurance, having a clear grasp on contractual obligations allows businesses to focus their energies on operational success rather than being bogged down by legal uncertainties.

Partnering for a Data-Driven Future

“We are thrilled to partner with Mantas in driving the shift toward data-centric business protection. The synergy between Mantas’ real-time analytics and parametric insurance will be pivotal in helping companies minimize losses stemming from cyber threats and cloud outages within an ever-expanding market. We believe that Mantas is poised to establish a new benchmark for ensuring enterprise continuity through innovative insurance solutions,” asserted Ayat Alsabbagh, Principal at Suhail Ventures.

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