Mantas, a new InsurTech startup focused on cloud risk, has recently unveiled its parametric insurance product designed to address cloud outages. The company has successfully completed a seed funding round, raising $1.77 million to support its initiatives.
The funding attracted contributions from several investors, including Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate, and a group of strategic angel investors. This financial boost aims to enhance Mantas’ product development and risk modeling capabilities, as well as to facilitate early deployments with potential customers.
Parametric insurance is a type of coverage that pays out a predetermined amount based on specific events or triggers, rather than requiring traditional claims processes. In the context of cloud service outages, Mantas’ offering could be particularly beneficial for businesses that face operational disruptions due to downtime in cloud services.
This innovation comes at a time when organizations increasingly rely on cloud services for their operations. Downtime can lead to significant financial losses, making insurance solutions like Mantas’ essential for risk management. By streamlining the claims process and providing quicker payouts, this product could help businesses recover faster when facing service interruptions.
As Mantas begins its journey in the insurance space, it will be interesting to see how it develops its product and engages with early customers. The success of their parametric insurance model may pave the way for more tailored insurance solutions in the tech landscape.
Original Source: https://fintech.global/2026/01/28/mantas-launches-parametric-insurance-for-cloud-outages/