In the lacunar spinel GaV4S8, the interplay of spin, charge, and orbital degrees of freedom produces a rich phase diagram that includes an unusual Néel-type skyrmion phase composed of molecular spins. To provide insight into the interactions underlying this complex phase diagram, we study the spin excitations in GaV4S8 through inelastic neutron scattering measurements on polycrystalline and single crystal samples. Using linear spin wave theory, we describe the spin wave excitations using a model where V4 clusters decorate an fcc lattice. The effective cluster model includes a ferromagnetic interaction and a weaker antisymmetric Dzyaloshinskii-Moriya interaction between the neighboring molecular spins. Our work clarifies the spin interactions in GaV4S8 and supports the picture of interacting molecular clusters.