Bring water to a boil in a small saucepan. Stir in gelatin until completely dissolved, then place into refrigerator until cool (but not solid).
Pour evaporated milk into a large bowl, and whip with a hand mixer until fluffy and doubled in volume. While continuing to beat, slowly pour in cooled gelatin. When all of the gelatin has been incorporated, pour the mixture into a mold or bowl and chill until set, about 3 hours. Once set, serve garnished with raspberries.