Overview
Digital risk insurance startup Mantas has raised $1.77 million in a seed round to provide parametric insurance for businesses reliant on cloud services. The funding, led by Nuwa Capital and Suhail Ventures, aims to address the financial risks associated with cloud outages by offering automatic payouts based on verified outage data. Mantas targets fintechs, e-commerce platforms, and other cloud-dependent industries, with plans for expansion in the MENA region and North America.
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Investors: Nuwa Capital, Suhail Ventures
Digital risk insurance startup Mantas has raised $1.77 million in a seed round to provide parametric insurance for businesses reliant on cloud services. The funding, led by Nuwa Capital and Suhail Ventures, aims to address the financial risks associated with cloud outages by offering automatic payouts based on verified outage data. Mantas targets fintechs, e-commerce platforms, and other cloud-dependent industries, with plans for expansion in the MENA region and North America.