Are these small cap ASX shares the next Kogan (ASX:KGN) and Nearmap (ASX:NEA)?

Could these ASX small cap shares be the next Kogan.com Ltd (ASX:KGN) and Nearmap Ltd (ASX:NEA)?

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If you’re looking for small cap ASX shares to add to your watchlist, then I think the two listed below could be worth considering.

While they still have a lot of work ahead of them, I believe both have the potential to grow into much large entities in the future if all goes to plan.

Here’s why I’m watching them closely:

Aerometrex Ltd (ASX: AMX)

Aerometrex is a growing aerial mapping business specialising in aerial photography, photogrammetry, LiDAR, 3D modelling, and aerial imagery subscription services. The latter is through its MetroMap offering, which provides access to high quality 2D imagery and 3D reality mesh models. The company has been busy developing new products to strengthen its offering and recently announced a new bush fire prevention product.

This new technology is able to determine, in three dimensions, the exact fuel load densities in any bushfire prone region in Australia. Management believes the breakthrough could allow users to adopt a far more science-based and pre-emptive fuel load strike position ahead of this year’s bushfire season. All in all, Aerometrex is starting to look like the next Nearmap Ltd (ASX: NEA).

MyDeal.com.au Limited (ASX: MYD)

MyDeal.com.au is a recently listed online retail marketplace provider with a focus on furniture, homewares, appliances, technology, baby products, and hardware. It has been a strong performer in FY 2021, delivering first quarter gross sales growth of 317% to $56.67 million. This was underpinned by the shift to online shopping and a 268% increase in active customers to 669,897.

The company raised $40 million from its IPO and intends to use the proceeds to drive future growth. This includes growing its private label business, investing in its proprietary technology, and investing in advertising to grow its customer base and brand. If it can continue its strong form and invests its funds wisely, we could be looking at the next Kogan.com Ltd (ASX: KGN).

Wondering where you should invest $1,000 right now?

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Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia has recommended Kogan.com ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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