Universal Robots has become an integral part of the automation landscape. In 2005, the three engineers Østergaard, Kasper Støy, and Kristian Kassow concluded that the robotics market was dominated by heavy, expensive, and not user-friendly robots.
Therefore, they tried to make robotic technology accessible to SMEs. In 2008, the first UR5 cobots were available on the Danish and German markets. About seven years after Universal Robots was founded, the company was acquired by Teradyne Inc.