Dubai – Sharikat Mubasher: Cloud risk startup Mantas announced it has launched from stealth after securing $1.77 million in seed funding to introduce parametric insurance for cloud service outages.

The round was backed by Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate, and strategic angel investors. The funding will support product development, risk modeling, and early deployments across the MENA region and North America.

Mantas treats cloud downtime as a financial risk rather than a technical issue. Its parametric insurance model enables automatic payouts triggered by verified outage data, eliminating lengthy claims processes. The company also offers real-time cloud risk monitoring to help businesses assess and manage exposure.

The platform targets cloud-dependent sectors such as fintech, e-commerce, SaaS, aviation, and regulated enterprises, as reliance on hyperscale cloud infrastructure continues to grow.

Mantas plans to expand its coverage alongside increasingly complex cloud and AI architectures, aiming to close the protection gap facing digital-first businesses.