# Thomas Bittar

> Thomas Bittar is a seed investor at Indicator Capital backing Software and Information Technology. See 10 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Indicator Capital](https://shizune.co/investors/profile/indicatorcapital)
- Location: São Paulo, Brazil
- Total investments: 10
- Last investment: Nov 2025
- Lead investor: 60%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/thomas-bittar-44114b13/
- X (Twitter): https://twitter.com/tlbittar
- Website: https://indicatorcapital.com/

Thomas Bittar is a seed investor at Indicator Capital in São Paulo focused on Software and Information Technology. Co-founding partner of IndicatorCapital, an early-stage VC firm based in São Paulo, Brazil. IndicatorCapital is an equal partnership that envisions to be recognized as “investors for the good”. The firm promotes a convergence among the entrepreneur’s dream, the venture’s success, and return of investors’ capital by offering effective tools ofoperations, management, disruptive vision, partnership, and durable value creation

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 4 | 40% |
| Information Technology | 3 | 30% |
| Retail | 2 | 20% |
| Analytics | 2 | 20% |
| PaaS | 1 | 10% |

31 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 6 | 60% |
| Series A | 3 | 30% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Brazil | 5 | 50% |
| United States | 2 | 20% |
| United Kingdom | 1 | 10% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Doji | Doji enables retailers in emerging markets to turn used devices into instant purchasing power through AI-driven trade‑in. | $562.6K | Seed | Nov 26, 2025 |  |
| Infleet | Infleet is an integrating center involving the main logistics and equipment management verticals of route planning, maintenance, supply, monitoring, and telemetry. The company provides transparency and agility. Infleet requires immediate responses and require consolidated data. | $1.9M | Seed | May 24, 2024 |  |
| Cogtive | Business process management software that helps businesses of all sizes automate operations & analyze performance using KPIs & metrics. Cogtive has the development line of applications for operations management aligned with the modern concepts of operational excellence. | $2M | Seed | Feb 08, 2024 |  |
| Syos | Syos is a startup specializing in the development of IoT (Internet of Things) and Analytics solutions. | $2.6M | Series A | Apr 13, 2022 |  |
| InfoPrice | INFOPRICE is a business intelligence company focused on physical retail pricing. It helps its clients, including industries and retailers improve margins, increase sales, and define better strategies on pricing. INFOPRICE was founded in 2013 and is based in Sao Paulo, Brazil. | $2.7M | Series A | Oct 26, 2021 |  |
| IOUU | IOUU was created with a great idea:Reinvent traditional financial services and ensure a better deal for everyone.We are a Fintech (finance + technology) with a team of ambitious, innovative and passionate people committed to the democratization of finance and providing simpler, faster and cheaper access to financial services based on the beliefthat innovative and creative solutions offer more value and a better experience.We encourage opportunities for people, companies, and investors, providing a better deal for everyone.We connect businesses and individuals looking for credit with investors and institutions with money to lend.Our platform is more efficient and transparent than traditional loans and we believe it is a better system for everyone.We want to lead the reinvention of a new industry by developing ethical and responsible ways to deliver greater value and better opportunities to our customers. We use technology to provide easy, fair and secure access to credit. We are building long-term relationships and helping clients access better credit through financial inclusion and personalized development.For us, access to credit should be perfect. We want to be recognized for our ideas, innovative technology, and commercial success. By combining non-traditional data sources and machine learning, we seek to provide access to better credit and greater convenience for digital banking. | $1.5M | Seed | Feb 10, 2020 |  |
| RetailApp | RetailApp’s mission is to help retailers increase sales and enhance margins through the development and deployment of innovative retail technologies. | $1.5M | Series A | Oct 26, 2018 |  |
| Back4app | Back4App is an open-source backend as a service and helps to speed up and scale app development without managing infrastructure. | $730K | Seed | May 03, 2018 |  |
| Back4app | Back4App is an open-source backend as a service and helps to speed up and scale app development without managing infrastructure. | $770K | Seed | Jun 01, 2017 |  |
| Doji | Doji is an online real-time marketplace for used goods. The company utilises the proven stock exchange model and advanced machine learning to maximize the value for both buyers and sellers of used goods, while eliminating all the hassle and persevering the environment by reducing the need to buy new. Founded in 2020 by Fernando Montera Filho,Bilal Ishaq Khan, and Satyen Fakey during their Masters programme at the University of Oxford, Doji began its operations in the UK. | $562.7K | Seed |  |  |

10 of 10 investments shown.

## Co-investors
- [DOMO.VC](https://shizune.co/investors/profile/domo-invest) — VC Fund, 4 deals together
- [Alchemist Accelerator](https://shizune.co/investors/profile/alchemist-accelerator) — VC Fund, 2 deals together
- [MONASHEES](https://shizune.co/investors/profile/monashees-capital) — VC Fund, 2 deals together
- [Alpha4 Ventures](https://shizune.co/investors/profile/alpha4-ventures) — VC Fund, 1 deal together
- [Angivest Ventures](https://shizune.co/investors/profile/angivest-ventures) — VC Fund, 1 deal together
- [Bossa Invest](https://shizune.co/investors/profile/bossanova-investimentos) — VC Fund, 1 deal together

## About Indicator Capital

VC Fund · São Paulo, Brazil

Founded in 2014, Indicator Capital is a Brazilian venture capital firm operating in Sao Paulo and the Silicon Valley. The partnership formed by Derek Lundgren Bittar, Fabio Iunis de Paula, and Thomas Lundgren Bittar, promotes the convergence between the dream of the entrepreneur and the financial return for the investor, tropicalizing American bestpractices to national startups. With more than R$ 270MM under management, Indicator Capital is the largest early-stage venture capital firm in Latin America specialized in Internet of Things (IoT). In their investments, the partners apply value-adding, proprietary methodology Building Value Together®, besides acting as Investors for Good, a concept reinforced by the firm`s certification as a B System™ company.

5 contacts available at Indicator Capital.

| Name | Title | Profile |
| --- | --- | --- |
| Derek Bittar | General Partner | https://shizune.co/investors/profile/derek-bittar |
| Fabio Iunis de Paula | General Partner | https://shizune.co/investors/profile/fabio-iunis-depaula |
| Mauro Percinoto | COO | https://shizune.co/investors/profile/mauro-percinoto |
| Thomas Bittar | General Partner | https://shizune.co/investors/profile/thomas-bittar |
| Gabriele Fischer | Associate | https://shizune.co/investors/profile/gabriele-fischer-babc |

## Similar investors

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

## FAQ

### What does Thomas Bittar invest in?

Thomas Bittar invests primarily in Software, Information Technology and Retail startups, most often at Seed and Series A stage. Most of the 10 investments tracked by Shizune back companies in Brazil. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Thomas Bittar last invest?

The most recent investment recorded for Thomas Bittar closed in Nov 2025. Shizune tracks 10 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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