Raiden and TomoCoin are both working on the scaling of the Ethereum Blockchain. The crucial difference here can be the fact that TomoChain might be able to work with more Blockchains than just Ethereum. Reasons to come up with such assumptions are: NEO investing into the project as well as a statement of the CEO during an interview in which he admits that Tomo might explore working with NEO for cross-chain transfers. Moreover, Raiden does not possess a community framework like TomoCoin with its web/smartphone wallet and the TomoApp.