Yes, I confirm that Red Pitaya is Instrumentation Technologies spin off. The Red Pitaya startup company team members have all been working for Instrumentation Technologies. All the informations concerning the Red Pitaya team are available at: http://kck.st/13xfdee
Yes, I believe the CEO of Red Pitaya came from Instrumentation Technologies.
It looks like Instrumentation Technologies is a company addressing physics particle detection and that Red Pitaya is a spin off. Although there also seems to be a sense it which Instrumentation Technologies is operating an incubator policy.
@Luis, It will take more than this no knock off NI and its loyal legions of LabVIEW programmers. There have been several low-cost platforms like this one, such as Overton Instruments, but this is the first Kickstarter project for T&M that I've seen.