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Glanced at the website and it certainly appears to be. The shape isn't terribly complex, either - wouldn't be hard to make something similar, if not replicate the exact design, provided you had suitable materials. Even heavy cardstock/manilla folder would likely suffice, if you were gentle with it, so you'd just have to source the LED strip/battery pack and select your background.
I've also seen other styles of portable light tents - most common type is translucent cloth over a springy wire frame that can fold down like those collapsible laundry hampers. If you'll be shooting small subjects like miniatures, you may be able to find a small one for much less than the Foldio. Ten seconds on Amazon suggests that 2' cubes can be found for $30. Setups that include lights, however, are generally more expensive.
If you don't need it to collapse, you can just use a cardboard box. Leave one face open and cut light windows (as large as you can without weakening the structure, overmuch) into the top and sides. Some tissue paper, white plastic bag, etc. over the holes will keep the light diffuse, so you can use external lamps to light the subject(s) when good ambient light isn't available. A cloth or paper drape for the background completes the rig. Not the most elegant solution, but perfectly functional and by far the cheapest option.
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