No new unicorn in six months as funding winter bites.

As a direct fallout of venture capital (VC) firms tightening their purse strings and asking founders to focus more on profitability, no unicorn has been minted in the past six months in the country.

This is the longest gap in the last seven years, according to data compiled by Tracxn.

Molbio Diagnostics, a Goa-based health tech platform, which raised $85 million from Temasek at a valuation of $1.6 billion in September 2022, was the last startup to become a unicorn.

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Prior to this, the longest gap was of two years - Zomato had turned unicorn in February 2018 after ShopClues entered the club in January 2016.

Unicorn is a term used in the VC industry to describe a privately-held startup valued at or over $1 billion.