Technology firms in Manchester raised over £500m in 2022, more than their counterparts in the likes of Rome, Lisbon and Brussels.
The record total of £532m is a 50% increase on 2021's figure and helped the city maintain its crown as the fastest-growing tech hub in the North and one of the biggest outside London and the South East.
The data, released by the Department for Culture, Media and Sport, comes after electric vehicle charging network Be.EV secured an investment of up to £110m from Octopus Energy Generation last year.
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Other big fundraisers included Freedom Fibre, which was founded by a former TalkTalk boss, that secured £84m on top of a £16m debt facility.
The data also includes The Modern Milkman, which raised £50m, but is headquartered in Colne, Lancashire. It is however backed by Manchester-based Praetura Ventures among others.
According to Dealroom, Manchester has over 1,600 start-ups and scaleups which are employing an estimated 60,000 people.
Collectively these companies have raised over £1.8bn in venture capital funding in the past five years.
Digital Economy Minister Paul Scully said: "Manchester’s thriving tech start-up scene is packed with innovation, fuelled by record levels of funding from 2022 and is outperforming much larger cities on the continent.
"There are huge opportunities in this city to forge a high-skilled, high-paid career in tech, and my discussions with the region’s business leaders will inform our work to grow the talent pipeline so these industries of the future continue to shine on the global stage."
Katie Gallagher, managing director at Manchester Digital, added: "The Manchester tech sector continues to flourish and innovate, and our Digital Skills Audit 2023 finds sentiment broadly positive for the year ahead.
"As a not-for-profit independent trade body, we work incredibly closely with the tech sector to support it with skills programmes, such as our Manchester Digital Academy, which offers Level 4 tech apprenticeships, which are developed and taught by tech businesses.
"The annual Digital Skills Festival brings together the leading tech businesses with the future tech stars of tomorrow, as well as announcing the results of our Digital Skills Audit 2023."
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