Radnor’s LodeStar Firearms has been attempting to raise $5 million to design the first American-made smart gun by next year, writes Erin Arvedlund for the Philadelphia Inquirer.

The startup is working on a nine-millimeter pistol that uses radio frequency ID technology to provide an additional layer of safety for users. Without the programmed ID token, the personalized handgun will always be in the “OFF” position. The firearm will light up green only when the chip is nearby.

Backers say this could prevent thousands of shootings every year and reduce gun thefts. And while the company hopes to eventually sell more than a million guns a year, this may prove difficult as not one smart gun has yet been sold here.

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The new technology has also faced huge blowback from the National Rifle Association, and sales of smart guns have been blocked by opponents, with other startups having gone bankrupt trying.

But Gareth Glaser, LodeStar’s CEO, sees smart guns as an untapped business opportunity.

“I did some research and found that, like auto accidents, safety with guns can be increased by technology like seat belts and air bags in cars,” he said.

Read more about LodeStar’s plans in the Philadelphia Inquirer here.