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Gifting startups raised $115.9 mn over a decade, funding declined in 2025
These figures show the transformation of the gifting industry from a predominantly offline, occasion-specific market to one that is increasingly tech-driven, the report said.
2025 funding levels drop in India
Funding activity in India for 2025 remains subdued, with Indigifts being the only startup to raise funds. It secured just $57,600 in an angel round. This marks a sharp decline from the $1.3 million raised in 2024. The previous year, 2024, had already seen a 96 per cent drop compared to $32.7 million in 2023, and a 98 per cent fall from the $63.9 million raised in 2022.
2025 sees selective investor activity
Investor activity so far in 2025 has been notably selective. In India, Ritesh Agarwal and Vineeta Singh emerged as the most active investors, supporting Indigifts.
Internationally, Raise has been the most heavily funded gifting startup in 2025, securing a $63 million Series D round. The deal drew investment from leading names, including Haun Ventures, GSR Ventures, and Web3 Foundation, alongside smaller funds such as ANAGRAM, Paper Ventures, Selini Capital, and Pharsalus. Other deals included Inkd Greetings, raising $2.7 million in a Series A round, and Giftagram, which attracted $441,000 in seed funding.
Globally, gifting startups raised $66.2 million across four rounds in 2025 to date. This compares to $99.8 million raised in 2024, representing a 54 per cent decline from the $218.0 million recorded in 2023, and a 16 per cent fall from the $118.6 million in 2022. The data points to a more cautious investment landscape, with investors showing greater selectivity and focusing on profitability rather than rapid expansion.
Peak activity during Covid-19
The gifting sector experienced peak funding levels in 2022. That year, Indian startups raised $63.9 million -- their highest annual total. Globally, 2021 marked the high point with $559 million in funding. The surge was driven by increased demand for digital gifting solutions, along with the growing popularity of festive and corporate gifting. Additionally, there was wider adoption of D2C platforms offering customised and curated experiences.
However, this momentum slowed in the following years, as investor focus shifted away from aggressive scaling strategies and moved towards supporting capital-efficient and sustainable business models.
Neha Singh, co-founder of Tracxn, said, 'The gifting and rewards sector has quietly evolved into a globally relevant, innovation-led category. Over the last decade, we've seen over $2.5 billion flow into gifting startups, not just to scale transactions, but to reimagine consumer experience, convenience, and loyalty. India, while still maturing, has built a strong base of resilient, founder-led businesses that are defining new benchmarks in digital-first branding and operational efficiency.'
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