Short answer: YES.
The problem is the bad rep that cold email got in the last few years, mostly because of the marketing and spam attached by it.
Before getting into it, what is a cold email?
A cold email put simply is the beginning of the conversation with some company, prospect, etc. Is the beginning of the relationship. The problem is only you ( the sender) knows about that
A not long time ago cold emails had a bad rep because well, they were spammy and not honest or genuine.
Cold email is not email marketing but a cold email can be to ask permission to send email marketing.