The most common and most likely answer to this crossword clue is the 7 letter word HOISTED
I've seen this crossword clue in The Times
H
O
I
S
T
E
D
More clues leading to the result HOISTED
Buddy explains!

The straight part
We know that "raised" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case raised = hoisted.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does HOISTED mean?
HOISTED verb- To raise; to lift; to elevate (especially, to raise or lift to a desired elevation, by means of tackle or pulley, said of a sail, a flag, a heavy package or weight).
- To lift a trophy or similar prize into the air in celebration of a victory.
- To lift someone up to be flogged.
- To be lifted up.
- To extract (code) from a loop construct as part of optimization.
- To steal, to rob.