It is very much inspired by Portal although it has one of the people who created Portal working on it. Her name is Kim Swift and she was hired by Valve along with the rest of the team that worked on Portal after seeing their "Narbacular Drop" game. Now she has a studio called "Airtight Games" and their publisher is Square Enix. A thing that amuses me about this demo video is the "fluffy" dimension where everything heavy turns into a light plushy\ie version of itself so you can easily pick it up. The fluffy dimension makes me think of my Portal Companion Cube Plushie.
There are three other dimensions that you can access it seems as well as indicated by the four battery slots as well as the slowing down time mechanic.