I-ll-see-you-and-raise-you Definition

Used to accept a bet, and at the same time raise the stakes.

I'll see your five and raise you ten.
I'll see your bet and raise you one thousand.
I'll see your $20 and raise you $200.
Wiktionary
More generally, used when someone produces or reveals something. One says this to announce they will answer by producing or revealing something of their own.
I'll see your defective gallbladder and raise you one heart murmur and a kidney stone.
Well, sir, I'll see your four months in Vietnam and raise you the twenty years I spent serving as an Air Force pilot flying in conflicts as far-ranging as Grenada, Somalia, Bosnia, and Haiti.
I'll see your gigabyte and raise you a terabyte.
Wiktionary