With festive season near, India’s gifting startups hit $115.9M in decade-long funding
India’s top-funded gifting startups include Xoxoday ($30.6 million), Ferns N Petals ($26.1 million), ZoomIn ($21 million), Bakingo and FlowerAura (each $16 million), and eYantra ($10.9 million).
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India’s gifting startups have raised $115.9 million between 2015 and 2025 to date (YTD), signalling steady though measured growth in a sector increasingly driven by personalisation, enterprise solutions, and selective capital inflows, according to Tracxn’s latest Gifting Platforms Wrap Report.
The report highlights that India’s all-time funding in the gifting segment now stands at $159.4 million, with Indigifts being the sole domestic startup to secure funding in 2025 YTD—raising $57,600 from investors Ritesh Agarwal and Vineeta Singh. This marks a steep funding decline from $1.3 million in 2024, which itself had dropped 96% from the $32.7 million raised in 2023 and 98% from the $63.9 million peak in 2022.
Globally, gifting startups raised $66.2 million across four rounds in 2025 YTD, down from $99.8 million in 2024 and sharply below the $218 million raised in 2023. Over the past decade, the sector attracted $1.73 billion in global funding, with total all-time investment reaching $2.52 billion. Leading global players include Raise ($220 million), Floward ($190.2 million), and Bloom & Wild ($174.3 million).
The sector saw its funding zenith in 2022 for India and 2021 globally, buoyed by pandemic-driven demand for digital gifting and direct-to-consumer (D2C) platforms offering curated, personalised experiences. In India, 2022 saw $63.9 million in funding, while global startups attracted $559 million in 2021. However, subsequent years have seen a marked slowdown, as investors shifted focus from rapid scale to capital-efficient, profitability-led models.
India’s top-funded gifting startups include Xoxoday ($30.6 million), Ferns N Petals ($26.1 million), ZoomIn ($21 million), Bakingo and FlowerAura (each $16 million), and eYantra ($10.9 million). These companies have capitalised on growing interest in personalisation, corporate gifting, and employee engagement solutions.
In 2025 YTD, investor activity in India has been selective, with founder-investors like Agarwal and Singh backing early-stage consumer brands. Globally, Raise’s $63 million Series D round drew high-profile investors such as Haun Ventures, GSR Ventures, and Web3 Foundation, signalling confidence in scaling gift card marketplaces. Other noteworthy deals included Inkd Greetings ($2.7 million Series A) and Giftagram ($441,900 seed funding).
India recorded no exits in 2025 YTD and has historically seen only five acquisitions, including Xoxoday (acquired by Gift in 2022) and ZoomIn (acquired in 2018). Globally, three acquisitions were reported so far this year, led by Card Factory’s $32.2 million purchase of Funky Pigeon, alongside Floom’s acquisition by Promenade and Giftcloud’s sale to Recharge.com.
IPO activity remains rare. No new public listings occurred in India this year, while globally, the last significant IPO was Vaziva’s March 2024 listing on Euronext Growth. Historically, just 12 gifting startups have gone public worldwide, primarily in Western markets.
Neha Singh, Co-Founder of Tracxn, stated, “The gifting and rewards sector has quietly evolved into a globally relevant, innovation-led category. 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.”
The report concludes that gifting remains a low-volume funding category, dominated by specialised leaders who attract disproportionate capital. With minimal unicorns, modest IPO activity, and exits largely through acquisitions, the space offers fertile ground for patient investors targeting enterprise gifting, personalisation technology, and niche D2C models.
