One to Watch: Nokeena

Nokeena Networks, a stealthy startup working on video delivery, let some details of its existence slip yesterday for a profile of the venture capital firm that incubated it. We’ve asked around and gotten some more details on what the company does.

Santa Clara, Calif.-based Nokeena has raised a total of $8.7 million in a seed round and Series A round led by Clearstone Venture Partners (where it was incubated) and Trinity Ventures. Angel investors include B.V. Jagadeesh, Raj Singh and Rajeev Motwani.

The company is looking to sell a hardware appliance with its video processing and network optimization software, targeting CDNs, media companies and online video portals as customers. Its current web site is basically a want ad for people with a “background in networking, storage systems and video processing.” It is supposed to launch sometime circa April 2009.

Nokeena was founded by Prabakar Sundarrajan, previously CTO of NetScaler, and Rajan Raghavan. The company arose from a conversation between Clearstone’s Sumant Mandal and Sundarrajan, according to a story in The Deal. “We got to brainstorming on the next big problem to be solved,” said Sundarrajan. “The light bulb went off on the oncoming tsunami of high-quality Web video. That was the genesis of Nokeena.”