The Kickstarter doesn't directly say this, but it uses the ISM band (900mhz in the US). The chip they're using has a maximum throughput rate of 500kbps. They're combining the features of wifi and bluetooth for fast speeds over short distances and supplementing it with an ISM radio for slower speeds over longer distances.
Since it has 256-bit AES encryption, I would guess they are basing it off something like an XBee/ZigBee/RFBee.
Since it has 256-bit AES encryption, I would guess they are basing it off something like an XBee/ZigBee/RFBee.