K Ganesh and Meena Ganesh, who last year sold their education services firm TutorVista to Pearson Group for Rs 577 crore, will partner FabMall (presently IndiaPlaza post acquisition) co-founders V S Sudhakar, Hari Menon, Vipul Parekh and V S Ramesh to unfurl their co-promoter stakes in a grocery ecommerce store BigBasket.com. BigBasket will also be raising $6 million from venture capitalists to ramp up warehousing, cold chain and logistics facilities.

According to the Times of India report, the couple will also have co-promoter stakes in four different ecommerce start-ups in the coming weeks, which include, online jewellery store Bluestone.com, book store BookAdda.com and a trip planning and travel sharing site MustSeeIndia.com. The couple would work with professional entrepreneurs to roll up ecommerce engines.

Bluestone has already received a funding commitment from a Silicon Valley investor. Their two other investments BookAdda.com and MustSeeIndia.com will be entering a market where there are already well-entrenched rivals.

Ganesh said, "I am quite bullish on retailing grocery online. London-based pure-play online grocer Ocado became hugely successful and it went public sometime ago. Tesco.com reports $3-billion revenues from online grocery sales. I have been observing this space sometime now."

"The success of this business model lies in the effective marrying of technology, internet, domain knowledge and logistics," Ganesh added.

VS Sudhakar said, "To start, our services are launched in Bangalore, with 50 delivery vans and six warehouses. We will enter four more cities this year and would have covered 20 cities in the next couple of years."