Short Take: TransMedia gets second round of financing

Networking equipment start-up TransMedia Communications announced a second round of financing, adding another $29 million to its coffers. The new round, funded in part by Hambrecht & Quist, adds to the first round of $7.5 million. The company is currently building a set of hardware and software that can support both Internet-based packet traffic and traditional phone traffic in the same system. TransMedia's technology is in testing, with shipments due by June, according to the company.