The startup, EarthNow, plans to launch 500 satellites to cover Earth's atmosphere in 'Big Brother' real-time video surveillance.
As well as Gates, SoftBank CEO Masayoshi Son and aerospace giant Airbus are also backing the project.
The price of the project could run to $1 billion (£700m), although the value of the investment by the companies has not been disclosed.
Applications could including tracking illegal fishing, monitoring the weather and tracking natural migrations globally.
Bill Gates backs a $1 billion plan to cover Earth in 'Big Brother' satellites capable of streaming 'live and unfiltered' HD footage of the planet
well this takes the 'no expectation of privacy in public' to new levels