Announcement
Dahab Shops reported in December 2022 that it had been accepted into Newchip's online pre-seed accelerator. The Abu Dhabi startup described a marketplace meant to connect gold, jewelry, watch, and accessory retailers with shoppers in the UAE and wider Gulf region. Founder and chief executive Wasem Razaz said the company hoped to learn from advisers and develop investor connections through the program.
Dahab Shops' surviving company profile describes the same jewelry-marketplace concept. The original accelerator release included Newchip's broad portfolio, fundraising, and cohort statistics. Those figures were promotional statements about the accelerator as a whole, not capital raised by Dahab Shops or a measure of its later performance. Acceptance into a program also does not establish a later financing round or continued operation of the marketplace.
The announcement is a record of a 2022 selection, not an invitation to apply to Newchip or to invest in Dahab Shops today. Customers, retailers, and prospective partners should verify a current storefront, seller protections, payment terms, and company registration before transacting. The historical announcement alone cannot establish present service availability.