Milan-based social app backed by a16z Speedrun and Italian Angels for Growth after surpassing three million downloads.
Waveful, a Milan-based social platform for making new friends and communities, has raised €1.8 million in seed funding to accelerate U.S. expansion and integrate AI into its product. The round was led by a16z Speedrun with participation from Italian Angels for Growth (IAG), Vento Ventures, Zest, Vesper Holding, and several Italian and American angels.
Founded in 2020 by brothers Steven Motta and Dennis Motta, Waveful aims to counter loneliness by creating digital spaces for authentic connections built around shared passions. The app has surpassed three million downloads in under six months and reported more than 200% monthly growth over the past year, generating over $1 million in sales through a B2C model.
CEO and co-founder Steven Motta said: “Being selected by a16z Speedrun as the only Italian company and becoming the startup with the highest growth within the programme was an incredible recognition, both for the team and for the vision we have built from the start. This round provides us the resources to accelerate our expansion in the United States, invest in AI-first technology, and attract new talent.”
Waveful said it plans to reach 500,000 American users within 12 months while expanding its team with 4–6 hires in engineering, growth, and marketing.
Robin Guo, investment partner at a16z, said: “We believe that the next generation of social apps will shift from monetising attention to becoming creator and fan marketplaces, where creators can monetise their efforts directly. Waveful is building this future, and we’re excited to support them on their journey forward.”
Waveful stood out in the a16z Speedrun programme as its fastest-growing company and the only fully Italian startup selected.