It can be used in the same way and for the same purpose Redis is used, only for spatial updates/queries. Take a look at the Thrift/Erlang documentation.
Spacebase appears to be a significantly more primitive KV store that implements RTree. Not that that's bad; looks interesting, even though it appears that the product won't be free, and so in my opinion is probably doomed.
Using 'Redis' in the title is just embarrassing for Spacebase and, by extension, for YC too. No need to troll the professional developer community with ridiculous comparisons.