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The Venture Codex

Italian Angels for Growth

Via Marsala, 29/h, Roma, Lazio, 00185, Italy

Overview

IAG is an angel investor network that offers access to its affiliates to early-stage venture opportunities. Its members to date have deployed over 22 million Euros to support 41 startups in the series seed/series A stage in many verticals, among which: Medtech, SAAS, e-commerce, Fintech, and high tech at large. Every investment opportunity at IAG is vetted by a professional team together with expert members of the group. Once invested, the company receives the support of up to two Investment champions, who bring their expertise to the table and help them succeed.

Total investments
32
Lead investments
8
Investments · 12mo
4
Active investors
10

Sector focus

  • Finance
  • Venture Capital
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Investment portfolio

  • Wora

    Led · Seed · Jul 2026

    Wora operates a platform that enables same-day, appointment-based deliveries for e-commerce merchants and brick-and-mortar retailers. Its technology includes a dynamic route-optimization algorithm and an omnichannel logistics model, and the platform integrates with major e-commerce sites to offer appointment selection, WhatsApp notifications, tracking, and real-time assistance. Retailers can also use Wora's app to request deliveries for in-store or social sales. The company is active in seven Italian cities and has handled more than 50,000 deliveries. Following its €600k seed round, Wora plans to continue developing its proprietary technology and expand into additional Italian cities and key European capitals.

  • Alomana

    Participated · Seed · Mar 2026

    Alomana offers Alo, an enterprise AI autonomy platform that executes autonomous workflows across data, applications, and code for production-level execution. Alo can generate full-stack apps, perform complex data analysis, and automate financial and operational controls within existing enterprise systems. The platform is used to automate operations, risk analysis, sales, KYC, and marketing. Alomana reports deployments across the finance, manufacturing, and pharmaceutical sectors and a base of over 500 enterprise clients. The company is led by co-founder and CEO Giuseppe Ettorre and plans to use its recent seed funding to advance autonomous features and expand large-scale deployments across Europe. No revenue or valuation figures were disclosed in the articles.

  • Qura

    Participated · Seed · Mar 2026

    Qura offers an integrated hybrid care pathway that begins with comprehensive blood testing via partner laboratories, followed by AI-driven analysis and a 45-minute consultation with a dedicated physician. The service targets the millions of Europeans experiencing persistent subclinical symptoms such as chronic fatigue, hormonal imbalances, digestive issues, and unexplained hair loss. Each member receives a personalized health plan that outlines immediate actions and longer-term monitoring, supported by ongoing medical guidance. The company keeps physicians at the center while leveraging AI to increase efficiency, personalization, and patient adherence. Its EU-native platform is GDPR-compliant, medically validated, and connected to local lab networks to ensure regulatory alignment. Fresh capital will be used to expand hiring across medical, engineering, and operations teams, invest in digital marketing and community-led growth, enhance AI health-intelligence capabilities, and prepare for expansion into additional European markets.

  • Waveful

    Participated · Seed · Sep 2025

    Waveful is a social platform that helps users make friends and form communities around shared interests. Founded in 2020 by Steven and Dennis Motta and headquartered in Milan, the product emphasizes authentic human connection and creator/fan monetisation. The company reports rapid early traction: over three million downloads in less than six months, monthly growth exceeding 200% in the past year, and more than $1M in sales via a B2C model. Waveful plans to strengthen its presence in the United States, targeting 500,000 American users within 12 months, and to invest in AI-first features to enhance the product. The team intends to hire 4–6 new roles in engineering, growth, and marketing to support expansion and product development.

  • Almanax

    Participated · Equity · Jan 2025

    Almanax develops AI-driven security models and platforms for the web3 ecosystem, focused on detecting and managing smart contract vulnerabilities. Its flagship model, ALMX-1, is a platform that enables engineers to manage real-world smart contract vulnerability detection. The company is developing ALMX-2, a follow-on model that builds on its existing support for multiple programming languages. Almanax launched the open-source Web3 Security Atlas in collaboration with TRM Labs, AnChain.AI and Hypernative, supported by the Stellar Development Foundation. It raised $1M and intends to use the funds to accelerate team expansion and continue development of the Web3 Security Atlas. The company was formed in 2024 by Francesco Piccoli, Giorgio Demarchi and Maxwell Watson. Almanax builds security tools to make Web3 safe and to prevent catastrophic crypto losses, beginning with AuditLLM, its first AI product that automatically audits smart contracts. The company was founded by Francesco Piccoli and Maxwell Watson. It raised an undisclosed Pre-Seed investment from defy.vc. Almanax said it will use the funds to expand operations and accelerate development efforts. AuditLLM is intended to reduce costs and wait times and to address point-in-time limitations, ineffectiveness, and redundancy in existing audit workflows. The company has also been selected by NVIDIA to participate in its Inception Program.

Team

  • Enrico Castellano

    Director

    LinkedIn
  • Francesco Marini Clarelli

    Onorary Chairman

  • Luigi Capello

    Co-founder

    LinkedIn
  • Lorenzo Franchini

    Co-Founder

    LinkedIn