Yes, cold email still works.
And it will never stop working.
Make sure you have good data, good content in your email, solid subject lines, and a good product or service, and you will be fine.
Scaling cold email can be challenging and would require an extensive review of your goals.
Send them something valuable for free - maybe a PDF that may help them learn something, etc.
except give them the valuable information in 3 or 4 consecutive emails and make the first email subject line to something like: