These 4 tech small caps have been big winners during COVID-19
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The ASX tech sector has been savaged since COVID-19 began affecting local equity markets nearly two months ago.
But there have been a handful of companies making gains despite being unlikely beneficiaries of the pandemic.
Know Your Customer (KYC) due diligence for banks is becoming increasingly complicated and Kyckr has a software solution designed to make things easier.
The company provides live customer intelligence software to help clients comply with “know-your-customer” laws.
Kyckr CEO Ian Henderson told Stockhead earlier this year the company was founded in 2007 when banks were not so heavily regulated. But with the ever growing roll of red tape, Kyckr’s services are in hot demand.
Earlier this month the company announced one of its biggest and most loyal clients, US bank Citi, was extending its contract.
The stock has more than doubled in the last month.
How do you facilitate open houses when gatherings of more than two people are banned? You do it online and Asset Owl has just the solution — inspector360.
AssetOwl’s software was originally developed to eliminate a lot of the paperwork around property management and inspections, with the feature facilitating virtual inspections intended as an add-on feature.
However, the increased demand for virtual inspections has resulted in this feature been fast tracked.
The company reported demand for this new service had skyrocketed in recent weeks. It helps potential buyers see the property in a similar way to Google Street View.
Like Kyckr, it’s shares have also more than doubled in the last few weeks.
Meanwhile, Whispir’s software solution was adopted by the Victorian Department of Health and Human Services (DHHS) to monitor travellers told to self isolate after coming back from holiday.
The software sends interactive messages to COVID-19 sufferers. It can monitor their daily health and check compliance with self-isolation requirements.
The stock listed last year at $1.51 and was stable until COVID-19 hit, when it crashed to 71c. But since the Victorian government deal was announced the company has been heading back up and now sits at $1.75.
Nanoveu’s flagship tech is designed to enable people with far sightedness to read smartphones and tablets without glasses.
But it too is sitting on a healthy gain after saying last week it would incorporate antiviral nanotechnology. It is targeting products to be available in a few months, although the first tests will be on a different coronavirus to COVID-19 — specifically HCoV-OC43, which was one of the first coronaviruses to be discovered.
Nanoveu boss Alfred Chong said there would be a strong interest in his company’s products with mobile phones being prime candidates for the spread of disease.