Windows 95 was just an upgrade of Windows 3.1
Simultaneously with Windows 3.1's release, IBM started shipping OS/2 2.0. Microsoft realized they were in need of an updated version of Windows that could support 32-bit applications and preemptive multitasking, but could still run on low-end hardware (Windows NT did not). So the development of Windows "Chicago" was started and, as it was planned for a late 1993 release, became known as Windows 93. Initially the decision was made not to include a new user interface, as this was planned for Cairo, and only focus on making installation, configuration, and networking easier. Windows 93 would ship together with MS-DOS 7.0 offering a more integrated experience to the user and making it pointless for other companies to create DOS clones. MS-DOS 7.0 was in development at that time under the code name "Jaguar" and could optionally run on top of a Windows 3.1-based 32-bit protected mode kernel called "Cougar" in order to better compete with DR-DOS.