Venture capital sought to fund atomic rhino poaching deterrent
A South African startup that’s promoting the use of implanted radioactive pellets to deter the poaching of endangered animals such as rhinos is seeking venture capital support to roll out the project commercially.
The Rhisotope Project, which began in 2021, last month inserted the pellets into the horns of 20 rhinos as the final research stage before marketing the technology. Now, in order to roll out the program, it needs to raise close to $1-million.
“The Rhisotope Project is seeking venture capital support” to fund activities over the next two years with a commercial return expected after about 18 months, the project, which began at Johannesburg’s University of the Witwatersrand, said in its business plan sent to Bloomberg.
The project, which says the pellets will both deter poachers and allow horns from illegally killed animals to be detected when passing through borders, is one of a number of measures being promoted to protect the endangered animals. Those range from cutting off the horns, which are sold in east Asia where some people falsely believe that consuming them can cure cancer, to deploying human and canine guards around the clock.
Initially 30% of the shares will be offered to investors with the rest held by the university and the founders of the project.
“At a later stage, the work will expand into elephants, pangolins and other fauna and flora,” the startup said.
Russia’s state-owned nuclear company Rosatom was an early funder until it became “untenable” following the invasion of Ukraine, Rhisotope founder James Larkin said last month as the rhino horns were injected.
“Russian researchers were involved in various aspects, including developing the radioactive substance and its packaging,” Rosatom said in a reply to questions, adding that it’s still “eager to continue supporting the project.”
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