Mantas

Mantas is a UAE-based insurtech MGA (Managing General Agent) that designs and underwrites parametric insurance for cloud-native businesses, covering risks from cyber threats and cloud service outages. Founded in 2024 and headquartered in Dubai, the company raised a $1.77 million seed round in January 2026 to expand its parametric coverage offering, which pays out automatically when verified cloud downtime events are detected — eliminating the traditional claims process. Mantas provides all policyholders with integrated cloud outage detection and prevention tools, and offers coverage tailored to the regulatory and operational nuances of the MEA (Middle East and Africa) region. The company was co-founded by Basil Mimi and focuses on the growing gap between traditional insurance products and the real-time infrastructure risks faced by digital businesses.