Indian Gifting Startups Raised $116 Million in 10 Years: Tracxn

Why in the News?

Indian gifting startups have raised a total of USD 115.9 million between 2015 and 2025 year-to-date, indicating a gradual yet consistent growth in the sector, according to a new report by Tracxn titled Gifting Platforms Wrap Report.jn

The Indian Gifting Market was valued at USD 75.16 billion in 2024 and is expected to reach USD 92.32 billion by 2030, with a CAGR of 3.55% during the forecast period.

On the global front, gifting startups raised USD 1.73 billion over the past decade, with USD 2.52 billion in all-time funding.

Tracxn’s Report: A detailed analysis

In 2025 so far, investor activity in the gifting startup space has remained selective. In India, Indigifts received investment from Ritesh Agarwal and Vineeta Singh, indicating continued interest in early-stage D2C consumer brands. Globally, the largest deal was Raise’s $63 million Series D round, backed by Haun Ventures, GSR Ventures, Web3 Foundation, ANAGRAM, and Paper Ventures. Other notable deals include Inkd Greetings raising $2.7 million in a Series A round and Giftagram securing $441,900 in seed funding.

Exit activity in India’s gifting startup sector has remained minimal in 2025, with no acquisitions reported to date. Historically, the space has seen only five acquisitions, including Xoxoday’s acquisition by Gift in 2022 and ZoomIn’s acquisition by Sachin Katira in 2018.

“Over the last decade, we’ve seen over $2.5B 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. As capital becomes more selective, this sector stands out for its ability to attract high-conviction investors, achieve strategic exits, and continue innovating for long-term value creation.” says Neha Singh, co-founder of Tracxn

Indian Gifting Market: The Dominators

The Indian gifting sector is led by a few top companies that cater to a wide range of occasions and customer needs.

Ferns N Petals (FNP) is a well-known name, offering a wide range of products, including flowers, cakes, gift hampers, and event décor, with delivery available across India and internationally. Close behind is IGP (IndianGiftsPortal), which is popular for personalised gifts and festive items, especially among NRIs who want to send gifts to loved ones in India. In the corporate space, GiftKart stands out by providing digital gift cards and employee rewards for companies and startups. For quirky and fun gifts, Oye Happy has carved a niche with its creative, prank-based products.

Meanwhile, The Good Glamm Group has entered the gifting space through influencer-led beauty boxes, and The Gift Studio, backed by Reliance Retail, focuses on premium and luxury hampers.

Is the traditional gifting market dead?

India’s gifting market is currently estimated at around USD 65 billion in 2025, projected to reach USD 100 billion by 2030. Of this, traditional gifting continues to dominate, accounting for nearly 80 percent of the total value. This segment includes physical gifts such as sweets, jewelry, apparel, books, handicrafts, and other items that are widely exchanged during cultural festivals, religious celebrations, birthdays, and weddings.

Traditional gifting is deeply rooted in Indian social norms and seasonal shopping trends. Festivals like Diwali, Raksha Bandhan, Eid, and Christmas generate significant spikes in demand. Offline retail and local vendors still account for a large share of transactions, especially in Tier 2 and Tier 3 cities. Packaging, logistics, and customization services contribute to a broad supply chain that supports local employment and small businesses.

Digital gifting, though smaller in current volume, is growing rapidly. Estimated at USD 10 to 12 billion in 2025, it is expanding at a compound annual growth rate (CAGR) of over 20 percent, according to industry insights from RedSeer, Statista, and secondary data from industry news portals like YourStory and Inc42. E-gift cards, vouchers, and digital experiences are becoming popular among corporate buyers and young consumers. Metro cities have seen faster adoption, with around 40 per cent of gifting among urban millennials now taking digital form.

The Road Ahead

Indian gifting startups are emerging as key players in a rapidly evolving consumer market, blending tradition with innovation. These startups are tapping into India’s rich culture of gifting while modernising the experience through personalisation, tech integration, and direct-to-consumer (D2C) models. Brands like Indigifts, Ferns N Petals, and The Messy Corner are offering curated gift boxes, customised products, and digital gifting options, catering to both retail and corporate demand.